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Fly News Breaks for May 19, 2017
ADSK, PANW, SNX, LL, TMUS
May 19, 2017 | 10:23 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Goldman Sachs analyst Brett Feldman added T-Mobile (TMUS) to the firm's Conviction Buy List and increased its price target to $81 from $74 based on potential capital returns and upside to subscriber growth forecasts. 2. Jefferies analyst John DiFucci upgraded Palo Alto Networks (PANW) to Buy and raised his price target for the shares to $150 from $130. Palo's recent operational weakness has more to do with a major product cycle than sales execution or increased competition, DiFucci tells investors. 3. Oppenheimer analyst Brian Nagel upgraded Lumber Liquidators (LL) to Outperform saying a "potentially prolonged recovery" is starting to take shape under new management. 4. Raymond James analyst Adam Tindle upgraded SYNNEX (SNX) two notches to Strong Buy from Market Perform and established a $122 price target on shares saying key metrics are "poised to inflect." 5. RBC Capital upgraded Autodesk (ADSK) to Outperform from Sector Perform. Analyst Matthew Hedberg says he has increased confidence in the transition of the company's business model after it reported stronger than expected Q1 results. 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 TMUS;SNX;ADSK;LL;PANW From the Last 2 Days
PANW
Nov 21, 2017 | 11:18 EDT
As previously reported, FBN Securities analyst Shebly Seyrafi upgraded Palo Alto Networks to Outperform from Sector Perform as the company reported a "strong" Q1 and his checks indicate a "strong" Q2. The analyst also raised his price target on the shares to $175 from $155, while noting that Palo Alto Networks continues to be a share gainer in security.
TMUS
Nov 21, 2017 | 10:49 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Urban Outfitters (URBN) upgraded to Overweight from Neutral at JPMorgan with analyst Matthew Boss saying same-store sales at the company's three concepts turned positive in the third quarter for the first time since the first half of 2015. 2. Deere (DE) upgraded to Outperform from Neutral at Baird with analyst Mig Dobre noting he recently downgraded the shares on concerns another record corn crop would pressure prices and push out or moderate the recovery in North American agricultural equipment demand. He acknowledged those fears did not materialize as equipment demand in October was very strong with ag dealers pointing to emerging replacement demand in spite of low crop prices. Dobre raised his price target to $155 from $140 on Deere shares. 3. Cray (CRAY) upgraded to Buy from Hold at Craig-Hallum with analyst Chad Bennett saying he believes 2017 is likely to be the fundamental bottom in the HPC market and Cray is on the cusp of a new HPC product cycle that will last the next 4-5 years. 4. T-Mobile (TMUS) upgraded to Buy from Hold at HSBC with analyst Sunil Rajgopal saying the stock continues to outperform competitors with high single-digit growth in mobile service revenues and EBITDA. 5. Copa Holdings (CPA) upgraded to Overweight from Neutral at JPMorgan with analyst Fernando Abdalla saying the demand outlook for 2018 is promising, while management remains engaged in reducing operating costs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
PANW
Nov 21, 2017 | 07:09 EDT
UBS analyst Fatima Boolani noted Palo Alto Networks' solid Q1 results were in stark contrast to the tepid results from its competitors, shifting the competitive rhetoric back in favor of the company. The analyst believes its results will invigorate the bulls. Given the relative underperformance year-to date, it should be able to sustain its post-earnings momentum in the stock through year-end, she said. Boolani maintained her Neutral rating but raised her price target to $160 from $146 on Palo Alto Network shares.
PANW
Nov 21, 2017 | 06:06 EDT
Piper Jaffray analyst Andrew Nowinski raised his price target for Palo Alto Networks to $173 saying the company reported a "very strong" Q1, with all metrics exceeding consensus and guidance. The analyst believes the quarter suggests the company is "taking share across the board." He reiterates an Overweight rating on Palo Alto shares.
PANW
Nov 21, 2017 | 05:56 EDT
JPMorgan analyst Sterling Auty says Palo Alto Networks' Q1 results last night were a lot better than feared. The product revenue upside in the quarter shows that customers are still interested in firewall investment, Auty tells investors in a post-earnings research note. The analyst maintains an Overweight rating on the shares with a $182 price target.
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