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Fly News Breaks for October 15, 2018
ATVI, MCD, RL, LULU, PNC
Oct 15, 2018 | 10:29 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McDonald's (MCD) upgraded to Outperform from In Line at Evercore ISI with analyst Matt McGinley citing lowered expectations on comps, a pullback in valuation relative to last year, and the more defensive nature of the business model. 2. PNC Financial (PNC) upgraded to Outperform from Market Perform at Bernstein and to Buy from Hold at Deutsche Bank. 3. Ralph Lauren (RL) upgraded to Overweight from Neutral at JPMorgan with analyst Matthew Boss saying the recent pullback in the shares creates a "multi-year opportunity." 4. Activision Blizzard (ATVI) upgraded to Overweight from Equal Weight at Barclays with analyst Ryan Gee saying his positive view is based on upside potential for Call of Duty digital revenue in 2019 from battle royale, as well as optimism for incremental product announcements at BlizzCon "fueling positive revisions" to consensus 2019 earnings estimates. 5. Lululemon (LULU) upgraded to Outperform from Neutral at Wedbush with analyst Jen Redding saying she has long viewed lululemon as an "impressive" growth story, with a best-in-class retail leadership team at the helm, and continues to see the company's cutting-edge data analytics and technology platforms on the forefront of wins in the years to come. 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 MCD;PNC;RL;ATVI;LULU From the Last 2 Days
PNC
Nov 19, 2018 | 10:22 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AstraZeneca (AZN) downgraded to Hold from Buy at Investec. 2. Charles Schwab (SCHW) downgraded to Neutral from Buy at UBS with analyst Brennan Hawken saying while Schwab's business is growing more rapidly than traditional asset managers, there also seems to be "multiple compression on market sensitive revenues given risks to that outlook." 3. Pan American Silver (PAAS) downgraded to Underperform from Neutral at BofA/Merrill with analyst Lawson Winder citing substantial risk assumed from the Tahoe Resources (TAHO) acquisition and the high priced paid. 4. PNC Financial (PNC) downgraded to Market Perform from Outperform at BMO Capital with analyst Lana Chan saying that the stock is approaching her prior $139 per share forecast and sees the company as challenged in gaining market share through expansion given the competition from other Universal banks. 5. Madrigal Pharmaceuticals (MDGL) downgraded to Underperform at Raymond James with analyst Steven Seedhouse saying he expected MGL-3196 Phase 2 data sentiment to worsen exiting AASLD, but that it was exacerbated by the NASH resolution definition informing the seemingly large effect size of 27% versus 6% was not what he expected. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
ATVI
Nov 19, 2018 | 06:04 EDT
Meeting to be held in Boston on November 19 hosted by Wedbush.