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Fly News Breaks for January 7, 2020
WSM, RH, BBY, SNBR, MIK, GME, FND, TPX, AAN, AAP, BBBY, LOW
Jan 7, 2020 | 10:28 EDT
In a research note on retailers, BofA analyst Elizabeth Suzuki said she thinks the stocks that are best positioned for outperformance in 2020 are Aaron's (AAN), Advance Auto Parts (AAP), Bed Bath & Beyond (BBBY), Lowe's (LOW) and Tempur Sealy (TPX). Conversely, the analyst thinks several hardline retail stocks are poised to underperform in 2020, including Floor & Decor (FND), GameStop (GME), Michael's (MIK) and Sleep Number (SNBR). The firm's proprietary RENO barometer suggests that renovation spending may sequentially improve through 1H before tapering off in 2H. While she nots that essentially every company in her coverage universe stands to gain from a trade war resolution, the biggest beneficiaries would likely be Michael's, Floor & Decor, Best Buy (BBY), RH (RH) and Williams-Sonoma (WSM). Suzuki raised her price target for Aaron's to $85 from $80.
News For LOW;BBBY;AAP;AAN;TPX;FND;GME;MIK;SNBR;BBY;RH;WSM From the Last 2 Days
BBBY
Apr 14, 2021 | 12:14 EDT
The major averages are mixed at midday, with the Nasdaq a bit lower and the S&P 500 slightly higher after closing at a record level on Tuesday. Earnings beats by... To see the rest of the story go to thefly.com. See Story Here
LOW
Apr 14, 2021 | 10:14 EDT
Check out today's top analyst calls from around Wall Street, compiled by The Fly. BUY ALPHABET, SNAP:... To see the rest of the story go to thefly.com. See Story Here
LOW
Apr 14, 2021 | 09:57 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Exxon Mobil (XOM) upgraded to Market Perform from Underperform at Raymond James with analyst Justin Jenkins saying with the recent downdraft in the stock, it is the right time to get less negative in his for Exxon Mobil. 2. JetBlue (JBLU) and Spirit Airlines (SAVE) double upgraded to Overweight from Underweight with Southwest (LUV) upgraded to Neutral from Underweight at JPMorgan. 3. Lowe's (LOW) upgraded to Overweight from Neutral at Atlantic Equities with analyst Sam Hudson saying with the market now starting to look beyond tough FY21 compares, the hardline retail sector's position as a "structural Covid-19 winner is beginning to be appreciated." 4. Yum! Brands (YUM) upgraded to Buy from Hold at Argus with analyst John Staszak saying he is positive on the company's diverse brands, prospects for higher same-store sales, global operations, and asset-light business model. 5. Apollo Global (APO) upgraded to Outperform from Perform at Oppenheimer with analyst Chris Kotowski arguing that "if Athene is worth book," Apollo is a strong buy. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
BBBY
Apr 14, 2021 | 08:59 EDT
Check out this morning's top movers from around Wall Street, compiled by The Fly.  HIGHER - Galectin... To see the rest of the story go to thefly.com. See Story Here
BBBY
Apr 14, 2021 | 07:50 EDT
The company said Q1 sales will be non-comparable due to COVID-related store closures in Q1 of FY20. The company also said positive sales momentum has continued into early Q1. Bed Bath & Beyond plans to introduce at least eight new owned brands in FY21, with six launches in first six months, including three in Q1. Says plans to remodel approximately 26 stores in Q1. Comments taken from Q4 investor presentation slides.
BBBY
Apr 14, 2021 | 07:41 EDT
Reports Q4: +6% Comp Sales growth on Bed Bath & Beyond banner, including digital comp growth of +99%; +12% Comp Sales growth in Bed Bath & Beyond's Top 5 destination categories combined. 31.5% Gross Margin; Adjusted Gross Margin increases 20bps to 32.8%; 13% increase in Adjusted EBITDA to $168M; 160bps expansion in Adjusted EBITDA Margin to 6.4%.
RH
Apr 14, 2021 | 07:31 EDT
Cowen analyst Max Rakhlenko raised the firm's price target on RH to $680 from $600 and keeps an Outperform rating on the shares. The analyst sees upside to the company's 2021 revenue and margin outlook, including raising his 1Q21 sales growth to +58%.
LOW
Apr 14, 2021 | 05:09 EDT
Atlantic Equities analyst Sam Hudson upgraded Lowe's to Overweight from Neutral with a $240 price target.
BBBY
Apr 13, 2021 | 13:55 EDT
Notable companies reporting before tomorrow's open, with earnings consensus, include JPMorgan (JPM), consensus $3.09... Wells Fargo (WFC), consensus 70c... Goldman Sachs (GS), consensus $10.20... Bed Bath & Beyond (BBBY), consensus 31c.