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Fly News Breaks for August 9, 2019
STM, JACK, SYMC, CPA, IAC
Aug 9, 2019 | 10:11 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. STMicroelectronics (STM) upgraded to Buy from Neutral at Goldman Sachs with analyst Alexander Daval saying he had previously been cautious given risks to second half of 2019 estimates, but he now believes these are be baked into the reset fiscal year guidance. 2. Jack in the Box (JACK) upgraded to Outperform from Neutral at Wedbush with analyst Nick Setyan saying that in light of current same-store sales growth and margin trends, it expects investors to reassess management's fiscal 2022 EBITDA and free cash flow targets of $300M and $175M, respectively, as "realistic," which could ultimately result in a higher valuation. 3. Symantec (SYMC) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Keith Weiss saying the pending acquisition by Broadcom (AVGO) of the company's Enterprise Business puts a floor on the valuation of that unit. 4. Copa Holdings (CPA) and ViaSat (VSAT) upgraded to Outperform from Market Perform at Raymond James. 5. IAC (IAC) upgraded to Buy from Neutral at Guggenheim with analyst Jake Fuller saying he sees ongoing improvement in the visibility of the company's sum-of-the-parts story. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
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