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Fly News Breaks for December 17, 2019
Dec 17, 2019 | 10:08 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Micron (MU) upgraded to Outperform from Neutral at Wedbush with analyst Matt Bryson saying the upgrade is not a call on the quarter, as he doesn't expect meaningful upside to Q1 and expects the company's Q2 outlook to also be muted or in-line with the Street, but that he sees an improving memory dynamic. 2. Freeport McMoRan (FCX) upgraded to Outperform from Market Perform at BMO Capital with analyst David Gagliano saying Freeport shares are positioned to be the "go to" name within the U.S. Metals & Mining sector for those seeking exposure to a broader macro-economic demand recovery in 2020. 3. Parker-Hannifin (PH) was upgraded to Buy from Neutral at BofA/Merrill and to Buy from Hold at Stifel. 4. Vera Bradley (VRA) upgraded to Outperform from Market Perform at Cowen with analyst Oliver Chen saying he believes performance and "hands free" driven product innovation will drive consistent comps. 5. Johnson & Johnson (JNJ) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst David Lewis saying pharma growth is likely to accelerate in 2020, which historically has lifted the stock's multiple, while its Consumer segment is stabilizing and the Medical Devices & Diagnostics unit has seen "six consecutive quarters of momentum improvement." 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 MU;FCX;PH;VRA;JNJ From the Last 2 Days
Oct 20, 2020 | 06:37 EDT
Swedish regulators on Tuesday banned the use of telecom equipment from China's Huawei and ZTE (ZTCOY) in its 5G network ahead of the spectrum auction scheduled for next month, Reuters' Supantha Mukherjee, Helena Soderpalm and Johannes Hellstrom report. The ban is likely to benefit rival telecom equipment makers Ericsson (ERIC) and Nokia (NOK), the report notes. uawei suppliers include Micron Technology (MU) and Western Digital (WDC), while makers of optical components, including Acacia Communications (ACIA), NeoPhotonics (NPTN), Lumentum (LITE), and Finisar (IIVI), have previously reacted negatively to headlines regarding enforcement actions and allegations against China's Huawei. Reference Link
Oct 19, 2020 | 15:22 EDT
Lynx analysts KC Rajkumar and Jahanara Nissar note that NAND stocks jumped following The Wall Street Journal's article on a potential sale of Intel's (INTC) NAND business to SK Hynix, which should come as "no surprise." Owners of Western Digital (WDC) and Micron (MU) shares have reason to cheer the Journal story, they contend, as the impact to Western Digital/Micron with SK Hynix as the acquirer is "manageable" due to muted capex at SY Hynix. While the analysts think the move up in Western Digital and Micron is justified, they acknowledge that some profit-taking too is likely as the NAND market continues to be weak. Additionally, Rajkumar and Nissar believe suppliers continue to have lack of visibility to timeline of demand recovery and price stabilization.