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Fly News Breaks for January 17, 2020
WDC, QCOM, PINS, SNAP, YUM
Jan 17, 2020 | 10:14 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Western Digital (WDC) upgraded to Outperform from Neutral at Wedbush with analyst Matt Bryson saying he believes NAND pricing is in the midst of a V-shaped recovery and that the impact of a NAND upcycle on forward earnings power supports continued stock appreciation. 2. Qualcomm (QCOM) upgraded to Buy from Neutral at Citi with analyst Christopher Danely saying he expects upside to both revenue and margins for Qualcomm going forward given share gains in 5G, higher selling prices, and increased royalty revenue. 3. Pinterest (PINS) upgraded to Overweight from Equal Weight at Wells Fargo with analyst Brian Fitzgerald saying the shares have "materially underperformed" the broader market since the April 2019 initial public offering even though the company's fundamentals "remain on solid footing." 4. Snap (SNAP) upgraded to Buy from Neutral at UBS with analyst Eric Sheridan saying the company has exited 2019 with positive momentum in ad revenue as well as user growth, and he expects that momentum to be sustained this year. 5. Yum! Brands (YUM) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst John Glass saying Pizza Hut U.S. only accounts for 8% of total profits and concerns about the business are largely reflected in the stock's current price after underperformance in 2019. 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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