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Fly News Breaks for November 18, 2019
AMRN, WDAY, ANCN, SHW, PGR
Nov 18, 2019 | 10:14 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Progressive (PGR) downgraded to Neutral from Conviction Buy at Goldman Sachs with analyst Yaron Kinar saying shares remain undervalued, but 2020 and 2021 consensus estimates will come down as Progressive decides to prioritize sales growth over sustaining core underwriting margins that are consistent with 2019. 2. Sherwin-Williams (SHW) downgraded to Neutral from Conviction Buy at Goldman Sachs with analyst Robert Koort citing valuation. 3. Anchiano Therapeutics (ANCN) was downgraded to Neutral from Outperform at Baird and Oppenheimer and to Neutral from Buy at Ladenburg. 4. Workday (WDAY) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Keith Weiss saying while the company said its pipeline into FY21 remains strong, CEO Aneel Bhusri noted they have "definitely" seen some deals get pushed out and deferred. 5. Amarin (AMRN) downgraded to Neutral from Buy at Citi with analyst Joel Beatty saying his new price target reflects a valuation of $11.2B when assuming a diluted share count of 413M. 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 PGR;SHW;ANCN;WDAY;AMRN From the Last 2 Days
SHW
Oct 28, 2021 | 12:26 EDT
Get caught up quickly on the top news and calls moving stocks with these Top Fives, as compiled by the editors of The Fly.  1... To see the rest of the story go to thefly.com. See Story Here
SHW
Oct 28, 2021 | 10:06 EDT
Check out today's top analyst calls from around Wall Street, compiled by The Fly. MACRO UNCERTAINTY: Vertical... To see the rest of the story go to thefly.com. See Story Here
SHW
Oct 28, 2021 | 09:55 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Stock Yards downgraded to Market Perform from Outperform at Keefe Bruyette with analyst Kelly Motta citing valuation for the downgrade following the stock's run but believes the company's fundamentals "remain very strong." 2. Elanco (ELAN) downgraded to Hold from Buy at Stifel with analyst Jonathan Block seeing a "potential revenue air pocket" for the company in 2022 as share losses in one of its biggest divisions, parasiticides, accelerate. 3. Avis Budget (CAR) downgraded to Neutral from Buy at BofA with analyst John Murphy saying the stock has advanced 40% in just the last month and 345% year-to-date. 4. Sherwin-Williams (SHW) downgraded to Neutral from Buy at BofA with analyst Steve Byrne saying while he believes underlying demand and fundamentals "remain robust," Sherwin-Williams is fighting the "dual headwinds" of peak inflation and peak expectations. 5. Motorola Solutions (MSI) downgraded to Neutral from Buy at Northcoast with analyst Keith Houssum citing valuation for the downgrade with the shares up 47% year-to-date. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
SHW
Oct 28, 2021 | 07:28 EDT
RBC Capital analyst Arun Viswanathan raised the firm's price target on Sherwin-Williams to $360 from $330 and keeps an Outperform rating on the shares. The analyst is positive on the strong price actions and continued robust demand, which should drive earnings upside in FY22 after raw material inflation stabilizes. Viswanathan adds that the company continues to operate well and run the business for growth despite near-term headwinds.
SHW
Oct 27, 2021 | 09:34 EDT
Loop Capital analyst Garik Shmois raised the firm's price target on Sherwin-Williams to $355 from $320 and keeps a Buy rating on the shares. The company's Q3 results was consistent with its negative pre-announcement late last month, but while raw material inflation has been tracking worse than anticipated, its newly enacted price increases are offsetting that trend, the analyst tells investors in a research note. Shmois further notes that Sherwin-Williams management remained bullish on demand and sounded incrementally more encouraged that supply chain constraints are getting less dire.
SHW
Oct 26, 2021 | 08:57 EDT
Check out this morning's top movers from around Wall Street, compiled by The Fly. HIGHER - Mogo (MOGO)... To see the rest of the story go to thefly.com. See Story Here
SHW
Oct 26, 2021 | 07:02 EDT
Sees FY21 revenue growth up high-single digit %, consensus $19.87B. "Our full year adjusted diluted net income per share guidance remains unchanged from our September 28, 2021 range of $8.35 - $8.55 per share. The pace of recovery in raw material availability remains highly fluid as the impacts of Hurricane Ida are more severe and longer lasting than initially thought, and we do not expect any moderation in raw material inflation any sooner than next year," said CEO Morikis. "At the same time, we are encouraged by the demand environment, which remains strong across pro architectural and industrial end markets. Our teams remain highly engaged with customers, and we continue to invest in solutions that will drive long-term growth. We are focused on offsetting higher costs with the incremental price increases we have announced, and we are prepared to implement additional increases should they be necessary to offset higher raw material costs. We also continue to work closely with our suppliers to improve raw material availability, and we believe we are extremely well positioned as the situation improves, including by adding an incremental 50 million gallons of architectural production capacity through expansion of existing facilities by the end of the first quarter of 2022. We fully expect to emerge from current conditions as a stronger company with stronger customer relationships, and we remain undeterred in our long-term growth strategies."