Information Provided By:
Fly News Breaks for January 22, 2020
CMA, ADP, OUT, FTNT, SE
Jan 22, 2020 | 10:18 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Comerica (CMA) upgraded to Neutral from Sell at Citi with analyst Keith Horowitz saying after the company's Q4 results, estimates have been reset and the bank's net interest margin is likely to grow from Q1 levels. 2. ADP (ADP) upgraded to Outperform from In Line at Evercore ISI. 3. Outfront Media (OUT) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Benjamin Swinburne saying he remains bullish on overall U.S. advertising this year while noting that out-of-home advertising is the only non-Internet based ad medium to show meaningful organic growth in recent years. 4. Fortinet (FTNT) upgraded to Outperform from Market Perform at Raymond James with analyst Michael Turits saying that among network security vendors, Fortinet checks were strongest, reporting improved enterprise execution, SD-WAN leadership among security vendors, success with its broad portfolio and continued high-end price/performance. 5. Sea Limited (SE) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Miang Chuen Koh saying 2020 is the year for Sea's e-commerce business to demonstrate its path to profitability alongside high gross merchandise volume growth. 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 SE;FTNT;OUT;ADP;CMA From the Last 2 Days
FTNT
Oct 25, 2021 | 07:15 EDT
KeyBanc analyst Michael Turits raised the firm's price target on Fortinet to $370 from $324 and keeps an Overweight rating on the shares following strong Q3 checks, expectation for minimal supply chain disruption, and solid VAR survey results. The analyst notes that his Q3 VAR survey saw an increased percentage of respondents indicating they met or exceeded plan this quarter. At the same time, however, there were increased reports of supply chain delays, and expectations for both 2021 and 2022 growth moderated. Digital transformation focus remains on cloud data management, advanced security, and application modernization, Turits adds. The analyst also points out that security VARs again indicated very strong demand, if with a slightly lower percentage of meets/beats than last quarter, and with increasing reports of supply chain constraints.