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Consumer Sector Update for 01/19/2018: WBA,BERY,ADT,LVS,WYNN,ISLE,MGM,PENN,ASCA,BYO


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Top Consumer Stocks

WMT +0.23%

MCD +0.86%

DIS -0.26%

CVS +0.62%

KO +0.65%

Consumer stocks continued to add to their mid-day advance this afternoon, with shares of consumer staples companies in the S&P 500 climbing over 1.1% while shares of consumer discretionary firms in the S&P 500 were up more than 0.7% in recent trade.

In industry news,

Jefferies began analyst coverage of several casino and gaming stocks today, starting Las Vegas Sands ( LVS ), Pinnacle Entertainment and Wynn Resorts ( WYNN ) with Buy ratings and price targetz of $30, $15 and $94 a share, respectively. The ratings shop also assigned Hold recommendations to Ameristar Casinos (ASCA), Isle of Capri Casinos (ISLE), MGM Resorts ( MGM ) and Penn National Gaming ( PENN ) in addition to respective price targets of $17, $10, $10, and $26 a share, while Boyd Gaming ( BYD ) was hit with an Underperform call and a $7 price target.

Other Analyst Actions:

Abercrombie & Fitch (ANF), upgrade to Buy from Hold with a $25 price target at Argus.

Altria (MO), upgrade to Buy from Hold at Jefferies.

Bloomin’ Brands (BLMN), downgrade to Sell from Neutral at Goldman Sachs.

Chipotle Mexican Grill (CMG), upgrade to Market Perform from Underperform at Raymond James

Dolphin Entertainment (DLPN), Maxim Group begins coverage with a Buy rating and a $6 price target.

Fiat Chrysler (FCAU), upgrade to Neutral from Underperform at Exane BNP Paribas.

Foot Locker (FL), upgrade to Outperform from Market Perform at Telsey Advisory Group, which increased its price target by $12 to $56.

Intercontinental Hotels Group (IHG), upgrade to Buy from Neutral at Goldman Sachs.

Jack In The Box (JACK), upgrade to Buy from Neutral at Goldman Sachs.

Kraft Heinz (KHC), Jefferies begins analyst coverage with a Buy rating and a $95 price target

La Quinta Holdings (LQ), upgrade to Neutral from Sell at Goldman Sachs.

Among consumer stocks moving on news:

+ Walgreens Boots Alliance (WBA) was edging higher Friday after the pharmacy retailer last night kept its quarterly dividend unchanged at $0.40 per share, payable March 12 to shareholders of record on Feb 15.

In other sector news:

+ Shares of home security company ADT Inc (ADT) rose this afternoon despite today pricing its $1.43 bln initial public offering of stock at $14 per share, well below its expected $17 to $19 range.

+ Berry Global Group (BERY) was narrowly higher today after today disclosing plans for a $400 mln offering of second-priority senior secured notes due 2026 to fund the cash portion of its acquisition of Clopay Plastic Products. If the deal is not completed, Berry will use the proceeds to pay down senior secured debt and for general corporate purposes

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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