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Fly News Breaks for February 12, 2020
GT, UA, TDOC, ABMD, NSP, UAA
Feb 12, 2020 | 10:20 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Under Armour (UA, UAA) downgraded to Neutral from Overweight at Piper Sandler with analyst Erinn Murphy saying that while she was expecting a lower than expected North America outlook, she did not expect the magnitude of the earnings cut. 2. Abiomed (ABMD) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst David Lewis saying since August of last year, he has discussed Impella pressures looking more structural than transient and has said he did not see a path to acceleration. 3. Goodyear Tire (GT) downgraded to Neutral from Overweight at JPMorgan with analyst Ryan Brinkman saying the company reported softer than expected Q4 results while also highlighting a number of factors that are likely to prevent a rebound in profits in 2020. 4. Insperity (NSP) downgraded to Neutral from Outperform at Baird with analyst Mark Marcon saying its third disappointing quarter in a row along with higher jumbo health care costs, guidance below expectations, and reduced WSE growth are reasons for his downgrade. 5. Teladoc (TDOC) downgraded to Equal Weight from Overweight at Wells Fargo with analyst Jamie Stockton citing valuation. 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 UA;UAA;ABMD;GT;NSP;TDOC From the Last 2 Days
UA
May 28, 2020 | 08:03 EDT
Under Armour reopened its first U.S. stores to customers on May 15, and opened additional stores last week. By this Friday, Under Armour will have reopened nearly 50% of its North America stores, under health and safety protocols.
ABMD
May 27, 2020 | 19:47 EDT
Piper Sandler analyst Matt O'Brien keeps his Overweight rating and $225 price target on Abiomed after the company held an investor meeting with commentary from a number of physicians earlier today. The analyst notes the discussion contained favorable mortality and ancillary benefits from Impella, adding that further data should drive more adoption in the high-risk percutaneous coronary intervention group, along with more severe heart failure cases expected due to COVID.
TDOC
May 27, 2020 | 14:43 EDT
RBC Capital analyst Sean Dodge noted that Teladoc has been able to drive utilization of its virtual health offerings to 17.9% in Q1 from just 4.7% as recently as 2015. His analysis of data on how often individuals seek healthcare, what they're seeking care for, and what can be delivered virtually leads him to estimate that utilization could climb to "150%+" over the next decade, which he said implies a $200 price target for Teladoc shares. The assumptions he uses to arrive at that target include long-term utilization ramping to 90%, which Dodge notes "is well above the current 13%, but well shy of the possible 150%+" he discussed in his note. Dodge maintains an Outperform rating on Teladoc shares.