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Fly News Breaks for October 3, 2019
Oct 3, 2019 | 10:19 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Raytheon (RTN) upgraded to Outperform from Neutral at Credit Suisse WITH analyst Robert Spingarn saying he believes United Technologies' (UTX) aerospace businesses are undervalued and that the market has yet to appropriately discount Raytheon's ~43.1% ownership of the proposed combined entity. 2. Wipro (WIT) upgraded to Neutral from Sell at Goldman Sachs with analyst Sumeet Jain citing valuation. 3. Dova Pharmaceuticals (DOVA) upgraded to Neutral from Underweight at JPMorgan with analyst Joel Fishbein saying the company's "strong" execution continues to drive "impressive growth at scale" as customer deal sizes grow amid larger initial deployments and customers adopting multiple products. 4. Crowdstrike (CRWD) upgraded to Buy from Hold at SunTrust with analyst Joel Fishbein saying the company has developed a "category-defining" cloud platform for cyber security, a market that is "ripe for disruption." 5. Newmont Goldcorp (NEM) upgraded to Buy from Hold at Deutsche Bank with analyst Chris Terry saying shares of Newmont have significantly underperformed compared to its closest peer Barrick Gold (GOLD) and also versus the gold price. 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 RTN;WIT;DOVA;OKTA;CRWD;NEM From the Last 2 Days
Nov 19, 2019 | 10:13 EST
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Broadcom (AVGO) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Craig Hettenbach saying while the stock is priced for risks associated with the Symantec deal, he has increased confidence in the company's software strategy amid what he sees as low expectations. 2. MaxLinear (MXL) upgraded to Buy from Hold at Needham with analyst N. Quinn Bolton saying the stock has "meaningfully underperformed" the broader Semiconductor index but believes that it is positioned to move higher, with market share gains expected "in microwave backhaul and the ramp of its 5G wireless transceiver." 3. Audentes Therapeutics (BOLD) upgraded to Outperform from In Line at Evercore ISI analyst Joshua Schimmer saying he is positive on the addition of new gene therapy programs for DMD and DM1, and expects it to move into the clinic next year with preliminary data by year end 2020. 4. Okta (OKTA) upgraded to Buy from Neutral at DA Davidson with analyst Andrew Nowinski saying while shares have declined 24% since the end of July, he believes the pullback represents a "good entry point" to get into one of the top Software-as-a-Service growth stocks. 5. AvalonBay (AVB) upgraded to Outperform from In Line at Evercore ISI. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Nov 19, 2019 | 09:14 EST
HIGHER: The Medicines Co. (MDCO), up 26% after Bloomberg reports the company is attracting takeover interest from companies including Novartis (NVS), which has been holding talks about a potential acquisition of the company... Viking Therapeutics (VKTX), up 7% after announcing he initiation of a Phase 2b clinical trial of VK2809, its novel liver-selective thyroid hormone receptor beta agonist, in patients with biopsy-confirmed non-alcoholic steatohepatitis... Okta (OKTA), up 2% after DA Davidson analyst Andrew Nowinski upgraded shares to Buy from Neutral and raised his price target on the shares to $135 from $131. UP AFTER EARNINGS: Medtronic (MDT), up 1%... TJX (TJX), up 1%... JinkoSolar (JKS), up 6%... Bilibilli (BILI), up 1%. DOWN AFTER EARNINGS: Kohl's (KSS), down 14%... Home Depot (HD), down 3%... Woodward (WWD), down 6%. ALSO LOWER: MSG Networks (MSGN), down 5% after Guggenheim analyst Michael Morris downgraded the stock to Sell from Neutral with an unchanged price target of $15. The analyst believes the company is in a "challenged" negotiating position as it approaches contract renewals covering 40% of its subscriber base given its current high affiliate rates and sustained low relative audience levels.
Nov 18, 2019 | 18:38 EST
UP AFTER EARNINGS: America's Car-Mart (CRMT) up 9.5%... (WUBA) up 3.8%... Bilibili (BILI) up 3.7%. ALSO HIGHER: SAExploration Holdings (SAEX) up 168.4% after getting $130M in new projects... Clovis Oncology (CLVS) up 5.8% after DE Shaw reported passive 5.4% stake... ServiceNow (NOW) Up 3.6% after announced entry into S&P500 index... Okta (OKTA) up 2.2% after being upgraded to Buy at DA Davidson... Splunk (SPLK) up 1.0% after being initiated at Buy at DA Davidson. DOWN AFTER EARNINGS: Woodward (WWD) down 5.4%... Kornit Digital (KRNT) down 4.9%... Ashland Global (ASH) down 3.4%... 21Vianet (VNET) down 2.8%. ALSO LOWER: DHT Holdings (DHT) down 5.6% after equity offering... Karuna Therapeutics (KRTX) down 4.2% after equity offering... 8x8 (EGHT) down 3.9% after convertible debt offering... Intelsat (I) down 3.7% after being downgraded to In Line at Evercore... Performance Food Group (PFGC) down 3.2% after equity offering... Ellington Financial (EFC) down 2.5% after equity offering. Movers as of 18:30ET.
Nov 18, 2019 | 17:47 EST
As reported earlier, DA Davidson Andrew Nowinski initiated coverage of Crowdstrike (CRWD) with a Neutral rating and $55 price target, saying the company is generating "unmatched" ARR growth, driven by sustainable, competitive advantages from a cloud-based platform. Nowinski said he believes the Amazon Web services (AMZN) partnership is seeing increasing momentum and the company has the potential to expand margins longer-term. The analyst noted, however, that he believes the current valuation appropriately balances the upside potential from these drivers.
Nov 18, 2019 | 08:45 EST
Latest data shows the largest indicative borrow rate increases among liquid option names include: ADT (ADT) 26.33% +1.41, Aphria (APHA) 52.20% +1.13, Revolve Group (RVLV) 20.69% +1.01, Turtle Beach (HEAR) 16.82% +0.80, Canopy Growth (CGC) 28.57% +0.58, Northern Dynasty (NAK) 20.85% +0.57, Financial Bear 3X (FAZ) 8.02% +0.22, CBL & Associates (CBL) 1.08% +0.20, CrowdStrike Holdings (CRWD) 17.34% +0.17, and Ballard Power (BLDP) 33.48% +0.16.
Nov 18, 2019 | 08:43 EST
As reported previously, Canaccord analyst Richard Davis downgraded Okta to Hold from Buy. The analyst cited its elevated valuation and said it is expensive by any valuation method and therefore fully priced. Davis lowered his price target to $120 from $145 on Okta shares.
Nov 18, 2019 | 08:26 EST
Industrial Goods Analysts von Rumohr, Khanna and Frohnhoefer discuss United Technologies' upcoming spinoff of Carrier Corporation and Otis Elevator, as well as the merger with Raytheon, on an Analyst/Industry conference call to be held on November 18 at 1 pm.
Nov 18, 2019 | 05:59 EST
Canaccord Genuity analyst Richard Davis downgraded Okta to Hold from Buy with a $120 price target.