<link rel='stylesheet' href='https//fonts.googleapis.com/css?family=Roboto:400,500,700,400italic|Material+Icons'>
< Back to all Breaking News
FDX, TRUE, TXMD...
8/7/2020 09:08am
FedEx named Best Idea among today's top calls on Wall Street

Check out today's top analyst calls from around Wall Street, compiled by The Fly.

FEDEX NAMED BEST IDEA: Stephens analyst Jack Atkins raised the firm's price target on FedEx (FDX) to $215 from $180, keeps an Overweight rating on the shares and named the stock his Best Idea for the rest of 2020, telling investors that he believes the setup for the company "is perhaps the best it has been since mid-2013." The stock "remains stubbornly range bound" despite what he sees as increasingly positive demand and pricing signals, noted Atkins, who identifies "at least ten" potential catalysts that he thinks can drive up estimates over the next four to six quarters.

TRUECAR RAISED TO BUY: Craig-Hallum analyst Steve Dyer upgraded TrueCar (TRUE) to Buy from Hold with a price target of $10, up from $4. The company has transformed over the past year under new leadership, creating a favorable risk/reward in the shares, Dyer tells investors in a research note. The sale of the ALG business "unlocks significant value" as it monetizes a non-core asset while retaining access to the data/analytics for five years, says the analyst. Dyer believes TrueCar's actions have "de-risked the stock" and that the company is improving business trends.

'SHOW-ME STORY' DOWNGRADED:
Jefferies analyst Christopher Howerton downgraded TherapeuticsMD (TXMD) to Underperform from Hold with a price target of $1.20, down from $1.25, calling the stock a "true 'show-me' story" given his view of the risks to meeting debt covenants over next six quarters. Annovera, which Howerton sees as "the only source of near-term hope for investors," saw its sales decline quarter-over-quarter, the analyst noted. He expects additional financing will be required by TherapeuticsMD, Howerton added.

UBER RESULTS LIKELY TO REMAIN 'INCONSISTENT':
KeyBanc analyst Edward Yruma says Uber's (UBER) mobility results had volatility driven by uneven reopening patterns, but its delivery business has significant momentum, which may represent as significant of a long-term market opportunity as mobility. Yruma feels Uber's results will likely remain inconsistent in the near-term as COVID-19 will likely determine the trajectory of the recovery, but believes it has seen a trough and greater operational discipline should improve long-term margins.

Meanwhile, Barclays analyst Ross Sandler raised the firm's price target on Uber Technologies to $43 from $39 and keeps an Overweight rating on the shares following the company's Q2 results. Delivery continues to stand out and management provided some new country-level stats which give confidence that Mobility can recover to pre-Covid-19 levels, Sandler tells investors in a research note. The analyst thinks Uber will come out of the current slowdown in "much better shape" with higher take rates, profit margins, and a "strong and balanced" position in both Delivery and Mobility. Morgan Stanley analyst Brian Nowak raised the firm's price target on Uber to $46 from $44 and keeps an Overweight rating on the shares as he increased his view of the value of rides by $1 per share given higher profitability and raised his view of the value of Eats by $1 per share given higher bookings. While the pace of rides recovery remains choppy, Nowak is still bullish on the overall Uber business emerging stronger post recovery, he tells investors following the company's quarterly report.

Wedbush analyst Ygal Arounian lowered the firm's price target on Uber to $41 from $47 and keeps an Outperform rating on the shares, saying June results were generally in-line with expectations. Arounian says it's clear Uber will be seeing turbulent consumer demand likely for the next year as globally he estimates that at least 30% of of consumers will not participate in the Gig economy until a vaccine is found, coupled by a work from home environment with no commute/traveling adding to the lack of demand.

IMMUNIC RESUMED:
Roth Capital analyst Zegbeh Jallah resumed coverage of Immunic (IMUX) with a Buy rating and $64 price target. The target is driven by Immunic's lead program, IMU-838, in relapsing-remitting multiple sclerosis and ulcerative colitis. The company is palso developing IMU-838 for Crohn's, primary sclerosing cholangitis, and COVID-19, Jallah tells investors in a research note.

dynamic_feed Breaking News