January 18, 2020 Real Estate Publication

Here are the biggest analyst calls of the day: Johnson & Johnson, Canopy Growth, Intelsat & more

Johnson & Johnson products on a shelf in a store in New York.

Lucas Jackson | Reuters

Here are the biggest calls on Wall Street on Wednesday:

Cantor Fitzgerald initiated Johnson & Johnson as ‘outperform’

Cantor initiated the stock as outperform and said it sees shares of the company moving higher following “diminished” risks from talc and opioid litigation.

“Upwards earnings revisions to JNJ‘s Pharma business and multiple expansion, from 15x to 17x, forward P/E, driven by diminishing headlines risks from talc and opioids, should move shares higher. JNJ has reported eight consecutive years of pharma operational sales growth at a CAGR of 8.9%, about twice as fast as the global market. As the majority of loss of exclusivity anniversary this year, we think Pharma is well positioned to return to above-market growth in 2020+. We also think liabilities from talc and opioids are manageable with JNJ’s cash balance, as well as its cash flow from operations.”

Bank of America upgraded Canopy Growth to ‘buy’ from ‘neutral’

Bank of America upgraded the cannabis company following a pullback in shares and a more “reasonable” valuation among other things.

“Two months ago, we downgraded Canopy Growth shares arguing Street estimates for Canopy were far too high given a temporary slowdown in provinces ordering cannabis (inventory had built given lack of retail stores). Now, w/shares -38% vs SPX +5% since our downgrade; ‘bad news out’; valuation more reasonable; and, importantly, Street estimates achievable (even beatable) for maybe the first time in Canopy’s history as a public company, channel inventory getting leaner, and data to look better ahead (retail $/volume), a bear case based on multiple compression and to a certain extent cash burn (despite still years of cash) seems less robust now.”

Read more about this call here.

Related Posts

The Kindest Cut: Why the 2020 Bitcoin Halvening Is the Most Important Yet

January 16, 2020

January 16, 2020

In May of 2020, bitcoin will see its next halving: the reduction of the reward for successfully mining a block....

Wall Street analysts say invest in these top stocks in 2020 including McDonald’s & Facebook

January 11, 2020

January 11, 2020

McDonalds Big Mac Getty Images Wall Street analysts say there’s no shortage of high quality stocks with upside for investors...

Stocks have less upside this year, according to the analysts who know them best

January 11, 2020

January 11, 2020

Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters Company analysts see only modest...

Why 2020 could be a big year for international stocks over US equities

January 11, 2020

January 11, 2020

A pedestrian looks at an electric quotation board displaying the numbers on the Nikkei 225 Index on the Tokyo Stock...

Gene Munster puts together a new case for why Apple stock should be trading 50% higher

January 10, 2020

January 10, 2020

Gene Munster, a former top Wall Street tech analyst turned venture capitalist, says Apple‘s stock has reason to trade 50% higher...

Cramer: I feel like a ‘clown’ for defending Boeing in the early days of 737 Max scandal

January 10, 2020

January 10, 2020

CNBC’s Jim Cramer said Friday that he feels like a “clown” for defending Boeing in the early days of the...

Things are so bad for Six Flags it got downgraded twice by the same analyst in less than 12 hours

January 10, 2020

January 10, 2020

A ride at Six Flags amusement park in Upper Marlboro, MD. Jonathan Newton | The Washington Post | Getty Images...

Ex-Goldman tech chief Marty Chavez joins start-up seeking to disrupt cancer

January 10, 2020

January 10, 2020

Martin Chavez, Goldman Sachs  Amanda Gordon | Bloomberg | Getty Images Marty Chavez’s next act is beginning. The former Goldman...

Ex-Goldman tech chief Marty Chavez joins start-up seeking to disrupt cancer diagnosis

January 10, 2020

January 10, 2020

Martin Chavez, Goldman Sachs  Amanda Gordon | Bloomberg | Getty Images Marty Chavez’s next act is beginning. The former Goldman...

Stock prices keep going up, but earnings are failing to keep pace

January 10, 2020

January 10, 2020

The good news is that stocks are continuing to rally because the market is assuming the magic combination of continuing...

CEO confidence in the economy has cratered, while consumers believe things are OK

January 9, 2020

January 9, 2020

Consumers and corporate chieftains are heading in the opposite direction, with one group still brimming with good thoughts about the...

Cramer says Wall Street analysts playing catch-up to market rally: ‘Just a very bullish moment’

January 9, 2020

January 9, 2020

CNBC’s Jim Cramer said Thursday that research houses on Wall Street underestimated the staying power of the stock market’s 2019...

Nearly all corporate CFOs say the economy is going to slow and the stock market is overvalued

January 9, 2020

January 9, 2020

Chief financial officers at big U.S. companies enter 2020 on a cautious note, with almost all anticipating an economic slowdown...

Wall Street usually shakes off volatility from US-Iran conflicts, history shows

January 8, 2020

January 8, 2020

Members of the Hashed al-Shaabi paramilitary force walk above a portrait of US President Donald Trump as they hold a...

Stocks climb in the ‘first five days’ indicator, sending bullish signal for 2020

January 8, 2020

January 8, 2020

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 27, 2018. Eduardo...