<link rel='stylesheet' href='https//fonts.googleapis.com/css?family=Roboto:400,500,700,400italic|Material+Icons'>
< Back to all Breaking News
FOXA, LB, ANF...
4/7/2021 10:04am
Fox Corp., L Brands upgrades among today's top calls on Wall Street

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

NFL DEAL 'A CLEARING EVENT': Wells Fargo analyst Steven Cahall upgraded Fox Corp. (FOXA) to Equal Weight from Underweight with a price target of $41, up from $27. Cahall now sees the new NFL deal as a clearing event with the firm's out-year TV estimates moving up significantly. Looking ahead, Cahall says M&A could be an opportunity, while cord cutting remains a real risk.

POST-PANDEMIC GROWTH: UBS analyst Jay Sole upgraded L Brands (LB) to Buy from Neutral with a price target of $96, up from $54. The economic reopening trade will end by September and retail stocks with "strong" post-pandemic growth prospects will likely outperform from there, Sole told investors in a research note. Experts said March sales for department stores and specialty retailers were "very strong," added the analyst, who increased estimates for fiscal years 2021 and 2022.

Sole also upgraded Abercrombie & Fitch (ANF) to Buy from Neutral with a price target of $46, up from $31.

SHARE UPSIDE: Wolfe Research analyst John Janedis upgraded ViacomCBS (VIAC) to Outperform from Peer Perform with a price target of $70, down from $80. The analyst sees an attractive risk/reward profile following the recent "collapse" of the shares. Underlying advertising trends are solid, streaming subscriber targets look reasonable, a distribution partner announcement in the coming months is likely, and the streaming business is only being valued around $5B at current share levels, Janedis told investors in a research note. The analyst sees 58% upside potential in ViacomCBS shares.

'RAPIDLY GROWING' MARKET: RBC Capital analyst Elvira Scotto initiated coverage of Sunrun (RUN) with an Outperform rating and $81 price target. Scotto estimates Sunrun has about a 25% share of the "rapidly growing" U.S. residential rooftop solar market and argues that its size, scale and brand give it advantages in acquiring customers and securing better financing than peers. Home battery options and virtual power plant agreements give the company added growth opportunities, said the analyst.

MOVING TO THE SIDELINES: Raymond James analyst Bobby Griffin downgraded Casey's General Stores (CASY) to Market Perform from Outperform without a price target, as the stock is now trading above the prior price target of $215. The downgrade is not a reflection of Casey's recent operating performance or management's capabilities, but a factor of Casey's valuation versus its historical valuation and peers, Griffin told investors in a research note. While Griffin continues to believe that Casey's business model is unique and offers a nice runway for unit growth, he believes the risk/reward set up is more balanced over the next few months.

dynamic_feed Breaking News