175090100trueLoaded Data51237Chevron CorporationCVX /Default.aspx?mode=anote&action=redirect&id=5123712017-08-21T13:28:58.770aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwA2ADIALQA5ADEARQBEAEMAMQA3AEEALQAzADkANgA4AC0ANABCADgAQQAtADkAQgBGAEYALQAyAEIAQQA2ADAAMwA0ADYAOAAyADgAMwAuAHAAZABmAA==0Reaffirming BUY with $130 target 151236NutriSystem IncNTRI /Default.aspx?mode=anote&action=redirect&id=5123612017-08-21T13:28:58.770aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwA2ADMALQA2ADkAOABFADEAMgA3ADAALQAzADIAOABFAC0ANAAwAEIAQgAtADkAMAAzADkALQA2AEYANQBGADMAOQA1ADIAMgA0ADkAMQAuAHAAZABmAA==0Better-than-expected guidance; raising target to $64 251226Paccar Inc.PCAR /Default.aspx?mode=anote&action=redirect&id=5122622017-08-21T07:30:40.853aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwA1ADAALQA1ADkAMgA5AEIAOQA1AEMALQBBADcANQAxAC0ANABBADgAQgAtAEEARQA0AEMALQAwAEMAQQBEADYANgA5ADEAMQBDAEQAMAAuAHAAZABmAA==0Boosting EPS estimates but reiterating HOLD 351225Kraft Heinz CompanyKHC /Default.aspx?mode=anote&action=redirect&id=5122512017-08-21T07:30:40.853aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwA1ADEALQBGAEYARABGADgAMQBDADcALQA0ADQANAAyAC0ANABDADUAOAAtAEEAQQBDADEALQAyAEUANwA0ADkAOABFAEUANQBFADcARAAuAHAAZABmAA==0Recent weakness offers buying opportunity 451224Johnson Controls Intl plJCI /Default.aspx?mode=anote&action=redirect&id=5122422017-08-21T07:30:40.853aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwA1ADIALQBGADYANABCAEIAQwA3AEYALQBCAEIANQA1AC0ANABFADAANwAtAEIAOQA4AEMALQA3ADEAOQA1ADcAOAA5ADIAOQA1ADMAQwAuAHAAZABmAA==0Looking for upgrade opportunity 551223Parker-Hannifin CorpPH /Default.aspx?mode=anote&action=redirect&id=5122312017-08-21T07:30:40.853aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwA1ADMALQBDADAAOAA3AEEANgA1AEMALQBCADgANwAzAC0ANAA3ADQAQgAtADgAOAA1ADEALQA3ADQAQgBEAEIARQA4ADkARQBEADkANwAuAHAAZABmAA==0Raising estimates for Industrial blue-chip 651222Cheesecake Factory IncCAKE /Default.aspx?mode=anote&action=redirect&id=5122222017-08-21T07:30:40.853aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwA1ADQALQA5ADQANwBEAEUAMgAxADkALQA0ADUAQwA0AC0ANABGADYANAAtAEIAMgBCADMALQAxAEIANQBCADUAOQAzAEEARgA4ADAAMAAuAHAAZABmAA==0Maintaining HOLD on slowing comps 751221Applied Materials IncAMAT /Default.aspx?mode=anote&action=redirect&id=5122112017-08-21T07:30:40.853aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwA1ADUALQA3AEUAMgA0ADcAMwAwADYALQAzADgAMAAwAC0ANAA4ADEARAAtAEIANgA1AEMALQBCAEEAOQAyAEYANgA2AEIANgA2ADEAMwAuAHAAZABmAA==0Boosting target to $52 following strong 3Q 851220NetApp IncNTAP /Default.aspx?mode=anote&action=redirect&id=5122012017-08-21T07:30:40.853aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwA1ADYALQA1AEIAOQAwADQAMAA1AEEALQBBADYAMQA2AC0ANAA2ADQAMgAtADgANwAzAEUALQA3AEIANwAxADMARQBEADIAMAA2ADkANwAuAHAAZABmAA==1Upgrading to BUY with $46 target 951219Baker Hughes a GE companyBHGE /Default.aspx?mode=anote&action=redirect&id=5121912017-08-21T07:30:40.853aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwA1ADcALQBDAEUANgBBAEUAQQBEAEEALQA3ADIAOABDAC0ANAAzAEYAQgAtAEIAOAA4ADUALQAwAEIAOQAwAEQARAAxAEUAQQBBADgAMAAuAHAAZABmAA==3Launching coverage with a BUY rating and $43 target 1051210National Oilwell Varco Inc.NOV /Default.aspx?mode=anote&action=redirect&id=5121012017-08-18T13:14:23.380aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwAyADYALQBDADMAMQAxADcARgBEADgALQA5ADYANgA1AC0ANAA1AEEAQgAtADkAMgAxAEYALQAyADEAQwAyADQANQA5ADUAMQA2ADUAOAAuAHAAZABmAA==0Reaffirming BUY with target of $51 1151209Starbucks CorpSBUX /Default.aspx?mode=anote&action=redirect&id=5120922017-08-18T13:14:23.380aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwAyADcALQAzADAAMwAyAEEAMwBFADYALQBDADUAMQA4AC0ANAAyAEMAQQAtAEEARQA4AEMALQA3AEMANAA3ADUARABDADMAOQBGAEYAQwAuAHAAZABmAA==0Maintaining HOLD on slower comp growth 1251199Noble Corporation PLCNE /Default.aspx?mode=anote&action=redirect&id=5119932017-08-18T07:04:50.993aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwAxADQALQBDAEYANAA3ADAAQQAzADQALQBEADMANAA1AC0ANAA3ADUAMQAtADgAMABEADgALQBEADAANAA0AEIAMgA1AEIARQAyADUAMwAuAHAAZABmAA==0Maintaining SELL on weak industry outlook 1351198Teva Phar Inds LtTEVA /Default.aspx?mode=anote&action=redirect&id=5119822017-08-18T07:04:50.993aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwAxADUALQAxAEIANQBGADcAMgBGAEMALQBEADAAMQBEAC0ANAA5ADQAMgAtAEIAMgBDAEYALQBGAEQARgBFADcARgA4ADcAOABGADIAMAAuAHAAZABmAA==0Hurt by falling Copaxone revenues and high debt 1451197Weyerhaeuser CoWY /Default.aspx?mode=anote&action=redirect&id=5119712017-08-18T07:04:50.993aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwAxADYALQBGADgAQgBFAEMAMgA1AEMALQBEADQARQAyAC0ANABFADkAQQAtADkARQBGAEQALQA4AEIAMgBCADAAQQAxAEYAQgBEADQAQgAuAHAAZABmAA==0Reaffirming BUY and $37 target 1551196Cisco Systems, Inc.CSCO /Default.aspx?mode=anote&action=redirect&id=5119612017-08-18T07:04:50.993aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwAxADcALQA2ADIAMQA0ADIAQQAwADAALQBBAEQANgAyAC0ANAAwADQANQAtADkAOQBEADMALQA4ADEANwBEADcAMABBAEEANwA2ADEAQwAuAHAAZABmAA==0Core business softens amid shift to software 1651193Public Serv Enterprise Grp InPEG /Default.aspx?mode=anote&action=redirect&id=5119312017-08-17T14:05:34.493aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwAwADQALQBCADIAMgBEADIAQgA3AEYALQA4ADAAOAA0AC0ANABBADYANQAtADgAQwAxADUALQBDAEIAMwBDAEEARAAzADIAQQBBADcARgAuAHAAZABmAA==0Solid 2Q17 results; reiterating BUY 1751192CenterPoint Energy IncCNP /Default.aspx?mode=anote&action=redirect&id=5119212017-08-17T14:05:34.493aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwAwADUALQA5ADgANwA4ADIAMABDADAALQA4ADcAMABFAC0ANAA1ADYAMQAtADgANQAyAEQALQA2AEMAQQAxADYAOAAxAEMAOABCADcANAAuAHAAZABmAA==0Reaffirming BUY and target of $33 1851191AECOMACM /Default.aspx?mode=anote&action=redirect&id=5119112017-08-17T14:05:34.493aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwAwADYALQBEAEQANAAwAEUAQQBGADUALQBBADQANwAzAC0ANAA1ADcAMwAtAEIANAAzADIALQAwAEUANgA4ADgARABGADAANQAyADkARAAuAHAAZABmAA==0Recent weakness offers buying opportunity 1951190Ecolab IncECL /Default.aspx?mode=anote&action=redirect&id=5119012017-08-17T14:05:34.493aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwAwADcALQBEADEAOAA5ADcARABEADgALQAxAEYAMgBBAC0ANAA4ADEAOAAtAEIAQQBCADgALQBFADAARgAzADYAMwA3AEQANABDAEUAOAAuAHAAZABmAA==0Raising target price to $150 2051189Apollo Global Management LLCAPO /Default.aspx?mode=anote&action=redirect&id=5118912017-08-17T14:05:34.493aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADMALwAwADgALQA4ADUARQBEADQAQwA2ADQALQAzAEUAQwA2AC0ANAA5AEYAMAAtADkAMgBBAEIALQAzADUAOQA4ADcAOQA2AEQANwA0ADUANQAuAHAAZABmAA==0Boosting target to $36 on higher fee-related earnings 2151179Exxon Mobil CorpXOM /Default.aspx?mode=anote&action=redirect&id=5117912017-08-17T06:58:10.250aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwA1ADQALQBEAEQAOAAxAEIARgBFADQALQBDADkANQBGAC0ANABDAEEAOQAtADgANwBEADUALQAxAEIAQgA3ADMANgAzADYAQgAxAEEARAAuAHAAZABmAA==0Reaffirming $104 target following 2Q results 2251178Kimberly-Clark CorpKMB /Default.aspx?mode=anote&action=redirect&id=5117822017-08-17T06:58:10.250aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwA1ADUALQBDAEEAQwA1ADMAMQA4AEYALQA4AEIARQAzAC0ANAAxADMARQAtADkAMAAzADAALQBCAEMAQQA1ADMAQwA2AEMAQgBFADUARAAuAHAAZABmAA==0Organic revenue disappoints; reiterating HOLD 2351177Xerox CorpXRX /Default.aspx?mode=anote&action=redirect&id=5117722017-08-17T06:58:10.250aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwA1ADYALQBBADMAOAA3ADQAMgAwAEQALQBCADIARgAzAC0ANAAxADkAMwAtADkARgA4ADUALQA1ADEAMgBBADQANQAzADYAMQBCADkAMgAuAHAAZABmAA==0Equipment transition weighs on revenue 2451176Host Hotels & Resorts IncHST /Default.aspx?mode=anote&action=redirect&id=5117622017-08-17T06:58:10.250aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwA1ADcALQA5ADQANwBGADEAQgAxADQALQA5AEQANAAzAC0ANABCADIANQAtADgARgBEADgALQAzADIAQQAzADcANwA3AEEAMQA3ADgAMwAuAHAAZABmAA==0Maintaining HOLD on challenging outlook 2551175Gilead Sciences IncGILD /Default.aspx?mode=anote&action=redirect&id=5117522017-08-17T06:58:10.250aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwA1ADgALQBCADcARQA2ADQAOQAwADgALQA1AEUAMgBDAC0ANABCADYARQAtADgARAAxAEQALQAwAEMAMQA5AEQARABFADkAOQAxAEUANQAuAHAAZABmAA==0Hurt by weak sales of hep C drugs 2651174Jacobs Engineering Group IncJEC /Default.aspx?mode=anote&action=redirect&id=5117412017-08-17T06:58:10.250aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwA1ADkALQAzADQAMQBDADUAMwA2ADkALQBBAEIAMQBBAC0ANAAyADMAOQAtADgAMQAwAEEALQA5AEEAQwAzADQAMAA3ADkANwBGAEEAQwAuAHAAZABmAA==0Recent weakness offers buying opportunity 2751170D.R. Horton IncDHI /Default.aspx?mode=anote&action=redirect&id=5117012017-08-16T14:12:13.673aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwA0ADMALQAxADkANQA4ADgAOABGAEIALQA2AEUAMgBFAC0ANAA1ADUANAAtAEIAQwA4ADcALQBEADUANQBFADIAMAA0ADEANgBFADkAOAAuAHAAZABmAA==0Raising target by $2 to $42 2851169Viavi Solutions IncVIAV /Default.aspx?mode=anote&action=redirect&id=5116922017-08-16T14:12:13.673aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwA0ADQALQBGADEAQwAyAEQARQBFADgALQBGADMARAAxAC0ANABGAEUANwAtAEIAMQA1AEUALQBCADIAQQBEAEMAMAA2ADUAMwBGADQANAAuAHAAZABmAA==0Network Enablement challenges; reiterating HOLD 2951168Hawaiian Holdings, Inc.HA /Default.aspx?mode=anote&action=redirect&id=5116812017-08-16T14:12:13.673aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwA0ADUALQA0AEIAOQA3AEMANgA2AEYALQBBADEAQQBFAC0ANABGADMAMAAtAEEAOAA3AEUALQBFADMANwA2AEQANwAwADkARQBBADQAMgAuAHAAZABmAA==0Selloff provides favorable entry point 3051156Sysco CorpSYY /Default.aspx?mode=anote&action=redirect&id=5115612017-08-16T07:07:28.177aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwAyADkALQAzAEMAQwBCAEEAQgA1ADEALQAzADcAQwBBAC0ANAA1ADcANAAtAEIARgA5ADkALQA0AEIAQQA2ADMAMQA4ADEANwAzADgARQAuAHAAZABmAA==0Solid quarter; reaffirming $64 target 3151155Nokia CorpNOK /Default.aspx?mode=anote&action=redirect&id=5115512017-08-16T07:07:28.177aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwAzADAALQA0ADcARAAwADUARQA4ADMALQAwADUAQwBDAC0ANAA0ADAAMAAtADkAQgA0ADIALQBBAEMANgA1AEIAMgA1ADIAQwA2ADIAMAAuAHAAZABmAA==0Margin expansion in 2Q17; reiterating BUY 3251154Home Depot IncHD /Default.aspx?mode=anote&action=redirect&id=5115412017-08-16T07:07:28.177aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwAzADEALQBCAEIARgA4ADQAMwBCADgALQAxADQAOAAzAC0ANAAxAEYAOAAtAEIAQQAyADkALQBEAEMAMgBGAEYAMwBGAEMAMgAzADMAOQAuAHAAZABmAA==0Raising estimates after strong 2Q 3351153KKR & Co LPKKR /Default.aspx?mode=anote&action=redirect&id=5115322017-08-16T07:07:28.177aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwAzADIALQBGADEAOQBFAEEARQAxADIALQAwADQAOQBBAC0ANABDADkAOAAtADgAOQBEADcALQBCAEIARAA1ADgANwA3ADEAMgA0AEMAOQAuAHAAZABmAA==0Maintaining HOLD following 2Q results 3451152Activision Blizzard IncATVI /Default.aspx?mode=anote&action=redirect&id=5115212017-08-16T07:07:28.177aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwAzADMALQA0ADYANwA4AEMAQgBBADYALQBFADgAOQAwAC0ANAA1ADcAQwAtADkAMQBEAEEALQBEAEYANQAyAEMAOAA1ADAAMwAyADcANQAuAHAAZABmAA==0Boosting target by $5 to $70 3551149Royal Dutch Shell PLCRDS/A /Default.aspx?mode=anote&action=redirect&id=5114912017-08-15T14:26:47.440aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAyADIALwA5ADcALQAxAEYAOABBADIAQwA0AEQALQBEAEMAQgA4AC0ANABDAEEAMQAtAEEAMQA2ADEALQBFAEEAMAAwADUARgAzAEYAQwAzADAAMwAuAHAAZABmAA==0Boosting target by $2 to $62 3651148Twilio IncTWLO /Default.aspx?mode=anote&action=redirect&id=5114822017-08-15T14:26:47.440aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwAxADkALQBFAEMARAA1ADgANAAzADkALQBEADcARABFAC0ANABFAEQARAAtAEIANgAyADMALQA0AEEANgBGAEUARAAyAEQARgBGADUARQAuAHAAZABmAA==0Impact of Uber loss receding; reiterating HOLD 3751147Hilton IncHLT /Default.aspx?mode=anote&action=redirect&id=5114712017-08-15T14:26:47.440aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwAyADAALQA0ADUANAA5AEMAMQBCAEEALQBEAEIANABGAC0ANAAyADEANQAtADkARQA3ADQALQAyADMAOQA5AEQAOQA4AEQARABGADQAMwAuAHAAZABmAA==0Maintaining BUY rating and $80 target 3851146Allstate Corp (The)ALL /Default.aspx?mode=anote&action=redirect&id=5114612017-08-15T14:26:47.440aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwAyADEALQAwAEUARQA5AEUAMABFADUALQA1AEQAMgBDAC0ANABFADkAOAAtAEEAOABCAEEALQBBADYAMwBEADUAMQBEAEQAOAAwAEMAQwAuAHAAZABmAA==0Strong 2Q; raising target by $10 to $105 3951136Symantec CorpSYMC /Default.aspx?mode=anote&action=redirect&id=5113622017-08-15T07:13:26.820aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwAwADMALQBFADYAQwA4ADEAMgBBADcALQA2AEQAMgA2AC0ANAA0AEQAMQAtAEEAOAA0AEQALQBEADYANwAwADUAMgBCADgAOABBADkANwAuAHAAZABmAA==0Reiterating HOLD following fiscal 1Q results 4051135Coca-Cola CoKO /Default.aspx?mode=anote&action=redirect&id=5113522017-08-15T07:13:26.820aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwAwADQALQBDADkANAA3AEYAMgBCAEEALQAwAEQAOAA5AC0ANABGADAAOAAtAEIAMAA5ADgALQBCADkAMgBGADQAQgAyADMANQBGAEYAMAAuAHAAZABmAA==0Volume flat; stock fairly valued 4151134Chicago Bridge & Iron Co NCBI /Default.aspx?mode=anote&action=redirect&id=5113422017-08-15T07:13:26.820aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwAwADUALQBBADUANABFAEEAQwBDADgALQBCADgAQwBCAC0ANAA2AEQANgAtADgAOQBFAEUALQA0ADEAMwA3ADAAMAAzAEIARgBFADEARQAuAHAAZABmAA==0Reiterating HOLD and lowering estimates 4251133Zoetis IncZTS /Default.aspx?mode=anote&action=redirect&id=5113312017-08-15T07:13:26.820aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwAwADYALQA4AEQAOAA4ADcAMQA0ADEALQA0AEQAOAA4AC0ANAAwAEIAOAAtADkAMAAxAEMALQBEADkARQA3AEMANwAxAEYAMgBGAEYAMwAuAHAAZABmAA==0Reaffirming $69 target price 4351132Snap IncSNAP /Default.aspx?mode=anote&action=redirect&id=5113222017-08-15T07:13:26.820aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwAwADcALQBFAEIAMABFADMAQgBDAEYALQA5ADIAQgAzAC0ANABGADkANQAtAEIAMAA3ADgALQA0ADgAMwAwAEUANgA0ADMAQwA2ADQANQAuAHAAZABmAA==0Ad trends inch higher, but DAU growth stalls 4451131Chipotle Mexican Grill IncCMG /Default.aspx?mode=anote&action=redirect&id=5113122017-08-15T07:13:26.820aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADcALwAwADIALQA1AEMAQgA5ADMAOQAzADgALQA5ADAARgA3AC0ANAA0ADYARgAtAEEAQQBGAEQALQAwADcARgBEADQAMQA2AEQARQA2ADMAOAAuAHAAZABmAA==0Maintaining HOLD following 2Q results 4551123Helmerich & Payne IncHP /Default.aspx?mode=anote&action=redirect&id=5112312017-08-14T14:16:43.600aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA4ADcALQA5ADMANwA3AEMAMwA5AEIALQBDADUAMABDAC0ANAA1ADYAQwAtAEEANAA5AEMALQAyADMAOAA4AEEARQA5AEMAQwA0ADIAMAAuAHAAZABmAA==0Reaffirming BUY but lowering target price to $65 4651122Whole Foods Market, Inc.WFM /Default.aspx?mode=anote&action=redirect&id=5112222017-08-14T14:16:43.600aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA4ADgALQBCADMAOQBFAEIAOQBCADQALQBBAEEAMABCAC0ANABDADMAQwAtADgARQA2ADIALQA2AEYANgBCADUAQQBDAEMANgAwADYAMAAuAHAAZABmAA==0Maintaining HOLD with Amazon merger on track 4751121Monster Beverage CorpMNST /Default.aspx?mode=anote&action=redirect&id=5112112017-08-14T14:16:43.600aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA4ADkALQA4ADcANgBEADYAQwA4AEYALQA5ADgAQgAyAC0ANAA4AEIAMwAtADgANwBFAEUALQAxADIAMABEADkAMABDADQAMQAwADcAMgAuAHAAZABmAA==0Solid 2Q results despite production shortfall 4851120Coca-Cola European Pntr PLCCE /Default.aspx?mode=anote&action=redirect&id=5112012017-08-14T14:16:43.600aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA5ADAALQBCADAANgBBADMAMAA4ADAALQA3AEYANAAzAC0ANAA1ADEARAAtAEIANwAwAEEALQA4ADEAQwA4ADIAQwAxAEIANAA0ADIANwAuAHAAZABmAA==0Raising target price by $8 to $54 4951110American Water Works Co. Inc.AWK /Default.aspx?mode=anote&action=redirect&id=5111012017-08-14T07:17:15.487aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA3ADAALQA0ADAAMwAyADgANQBBADkALQA4ADMANgBDAC0ANABDADIARQAtAEEARQA3ADgALQA1ADAAMgAxADIANwA2AEEAQgA2ADQANwAuAHAAZABmAA==0Solid second quarter; maintaining BUY 5051109Sprint CorporationS /Default.aspx?mode=anote&action=redirect&id=5110922017-08-14T07:17:15.487aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA3ADEALQBCAEQAMwBCAEUAMABDAEIALQA2ADcARgA3AC0ANABDAEEANQAtADgARgBGAEIALQA0AEQARQAxAEUARABGAEYANAA0AEEANgAuAHAAZABmAA==0Modest turnaround traction 5151108Macy's IncM /Default.aspx?mode=anote&action=redirect&id=5110822017-08-14T07:17:15.487aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA3ADIALQA5ADcAOABGADQAMgAwAEEALQA3ADcARQBDAC0ANABDAEMARAAtADgAMQA1ADQALQBDADAAMwA4ADEAOQBBADMAMgA2ADQAMAAuAHAAZABmAA==0Maintaining HOLD amid intense competition 5251107NVIDIA CorpNVDA /Default.aspx?mode=anote&action=redirect&id=5110712017-08-14T07:17:15.487aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA3ADYALQA0ADAAMgA0AEEAMQAwAEQALQAwADEANgA1AC0ANAAzADQAOQAtAEEANQA2ADQALQAyAEUANwBCADkAMgA3ADUAOQA5AEMAQwAuAHAAZABmAA==0Selloff overdone; reiterating $175 target 5351106HCA Healthcare IncHCA /Default.aspx?mode=anote&action=redirect&id=5110612017-08-14T07:17:15.487aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA3ADcALQA1ADMAMwBCAEEAOQA5ADgALQAwAEIAQgAwAC0ANAAwADEAMQAtADkAQwBGADUALQBCADgAQgBGAEEANQA0AEEAOQA4AEEANAAuAHAAZABmAA==0Reiterating BUY but lowering target by $7 to $93 5451105Hartford Finl Servs Grp InHIG /Default.aspx?mode=anote&action=redirect&id=5110522017-08-14T07:17:15.487aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA3ADgALQA3AEQAQgAzAEQAMAA4ADQALQBGAEYANgA0AC0ANABEADMARQAtADgAQQBDAEUALQA3AEQARAAxADYANQA4ADYAQwAyADQAOAAuAHAAZABmAA==0Mixed second quarter; maintaining HOLD 5551104CA IncCA /Default.aspx?mode=anote&action=redirect&id=5110412017-08-14T07:17:15.487aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA2ADgALQAxADQAMABDAEEARAA2AEUALQA1ADMARAA5AC0ANABGADgANwAtAEEAMQA4AEUALQA3ADQAQwAzADQAMwA2ADkANgAxAEUAOAAuAHAAZABmAA==0Extends positive revenue trend; reiterating $40 target 5651103Allergan PLCAGN /Default.aspx?mode=anote&action=redirect&id=5110312017-08-14T07:17:15.487aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA2ADkALQA3ADIAQgA3ADMAQgA4AEMALQBGADYARgAyAC0ANAA0ADIANwAtADkAMgA1AEMALQBDADQARAAyADYAQwA4ADMAOABCADgAMQAuAHAAZABmAA==0Strong second quarter; reaffirming $280 target 5751102Orbital ATK IncOA /Default.aspx?mode=anote&action=redirect&id=5110212017-08-14T07:17:15.487aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA3ADkALQBBADEANQBEADIAMgBBADQALQA3ADEANgA1AC0ANAA5AEEAMwAtAEEARQBCADYALQA4ADYANABEAEYAMgAwADcAOABCADEAMgAuAHAAZABmAA==1Upgrading to BUY with target of $120 5851098Conoco PhillipsCOP /Default.aspx?mode=anote&action=redirect&id=5109812017-08-11T14:54:38.260aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA1ADIALQBBADIAMgAxAEIAQwBFAEMALQBGAEMAQQA4AC0ANABBADQAMwAtADkARQBBAEEALQBEADUAOQBCADEARgA3ADAAQgBGAEYAQgAuAHAAZABmAA==0Swings to profit in 2Q; reaffirming $65 target 5951097Versum Materials IncVSM /Default.aspx?mode=anote&action=redirect&id=5109722017-08-11T14:54:38.260aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA1ADMALQBBAEIARABGADUANQBDADQALQA5AEYANQAwAC0ANABBAEQARgAtADkAMgAzADUALQA2ADcANwAzAEMAQQAwADgAMAA0ADUAQwAuAHAAZABmAA==0Positive outlook, but stock fully valued 6051096Lazard LtdLAZ /Default.aspx?mode=anote&action=redirect&id=5109612017-08-11T14:54:38.260aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA1ADQALQBGAEYAMQAxAEUAMwBCAEYALQBDADcAQgBGAC0ANAAzAEQANgAtADkAOQA4ADIALQA2AEYAQQA4ADcAQgAyAEEARAA3AEYAMgAuAHAAZABmAA==0Benefiting from strong advisory environment 6151095GrubHub IncGRUB /Default.aspx?mode=anote&action=redirect&id=5109512017-08-11T14:54:38.260aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA1ADUALQBFAEQAQgAyADIAMgBDADIALQA1AEUAQwAyAC0ANAA0AEEAMwAtADkAOABGAEQALQAyAEQAMAA4ADkARQBDAEUAMQBEAEYAMgAuAHAAZABmAA==0Raising target by $12 to $64 6251094Disney Walt Co.DIS /Default.aspx?mode=anote&action=redirect&id=5109412017-08-11T14:54:38.260aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwA1ADYALQBBADgANABGADAAMwA2AEIALQA5AEIANAA2AC0ANABBADkANAAtADgANwA3AEQALQBDADkANABGAEQAQQA2AEYARgA5ADIANwAuAHAAZABmAA==0Announces new video streaming services 6351080PNM Resources IncPNM /Default.aspx?mode=anote&action=redirect&id=5108012017-08-11T07:05:26.680aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwAzADEALQA1ADEARQA5ADIAMgA0AEQALQA2ADUANwA0AC0ANAA1ADYANAAtAEEAOABDADIALQBFAEMAQgA5ADAAQwBFAEIARgBCADkANAAuAHAAZABmAA==0Reiterating BUY with a target price of $43 6451079Kohl's CorpKSS /Default.aspx?mode=anote&action=redirect&id=5107922017-08-11T07:05:26.680aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwAzADIALQAxADUARAAxAEMAQQAwADMALQAwADAAQgAwAC0ANAA0AEIAMQAtAEIAQwAxADgALQAxAEQAQQBBADgAQgAxADMAMgBBAEQARgAuAHAAZABmAA==0Some positive signs in a tough environment 6551078Motorola Solutions IncMSI /Default.aspx?mode=anote&action=redirect&id=5107812017-08-11T07:05:26.680aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwAzADMALQA2AEYAMwAyADYAQQAzADEALQA5AEMAMQBDAC0ANAA4AEEARQAtADgAOQAyADgALQBDADMAMQAxAEYARAAyADIAMAAwAEIAQgAuAHAAZABmAA==0Solid second quarter and niche acquisition 6651077Dunkin' Brands Group IncDNKN /Default.aspx?mode=anote&action=redirect&id=5107712017-08-11T07:05:26.680aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwAzADQALQBEADQANgBCADEARgA5ADkALQBBAEIANgA5AC0ANAAzADkAMwAtAEIAMwA2ADUALQA3AEMARgA2ADcAMwAxADkANgA5ADEAOAAuAHAAZABmAA==0Maintaining BUY with $68 target 6751076Cognizant Tech Solus CorCTSH /Default.aspx?mode=anote&action=redirect&id=5107622017-08-11T07:05:26.680aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADUALwAwADYALwAzADUALQAyADcAMgBCADYANQA3ADUALQBEADAANQBBAC0ANAA2AEYARgAtAEEAQgA2ADUALQBFADgARQA5ADAARQBBADgAOQAxADQAMwAuAHAAZABmAA==0Slight beat, but tougher comps ahead; reiterating HOLD 6851072Vishay Intertechnology, Inc.VSH /Default.aspx?mode=anote&action=redirect&id=5107212017-08-10T13:34:39.673aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA5ADAALwAyADUALQAyADYAMQA2AEMANQBFADYALQA4ADMAQQBGAC0ANABDAEIAOAAtAEEAQQBBADcALQA0AEMAOAA0ADMARgA5ADkARAA3ADcARQAuAHAAZABmAA==0Continued momentum; reiterating target of $22 6951071Prudential Financial IncPRU /Default.aspx?mode=anote&action=redirect&id=5107112017-08-10T13:34:39.673aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA5ADAALwAyADYALQA4ADgAMwA1AEMAQgBBAEIALQA2ADIAQgAxAC0ANABDADEAMQAtADgAOABBAEEALQAwADgAMwBCADUAMQAzAEQAQwBCADUANgAuAHAAZABmAA==0Second-quarter earnings miss but positive outlook 7051070Mastercard IncorporatedMA /Default.aspx?mode=anote&action=redirect&id=5107022017-08-10T13:34:39.673aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA5ADAALwAyADcALQBEADUAQQA0AEYAMgA4ADMALQA4AEMAMgA1AC0ANAAzADcANgAtADgAMwBBAEUALQAzADYARABCADIAMAA4AEYAQwBCAEQANAAuAHAAZABmAA==0Spending volumes remained healthy in 2Q 7151069JetBlue Airways CorpJBLU /Default.aspx?mode=anote&action=redirect&id=5106922017-08-10T13:34:39.673aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA5ADAALwAyADgALQAwADEAMwA0ADEANAAwAEMALQBCAEIANAAyAC0ANAAwADIARgAtAEIAMwAxADUALQA4ADAAMgBCADIAOQBCADAAMAA3ADMARQAuAHAAZABmAA==0Solid 2Q results; maintaining HOLD 7251068Gannett Co IncGCI /Default.aspx?mode=anote&action=redirect&id=5106822017-08-10T13:34:39.673aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA5ADAALwAyADkALQAxAEEAMAA5AEMAMQA5ADYALQA4ADQANABGAC0ANAAxADkANQAtADgARQA3ADgALQBBADEAQwA4AEQANwA4AEQAMAAxADMAMgAuAHAAZABmAA==0Maintaining HOLD following 2Q earnings 7351056Valero Energy CorpVLO /Default.aspx?mode=anote&action=redirect&id=5105612017-08-10T07:03:08.207aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA5ADAALwAwADYALQAyAEIANgBFADgARgBDADIALQBFAEQANABCAC0ANAA2ADIAOAAtAEIANAAxADEALQA1AEEARABEAEYAQwBCADMAQwBBAEMAMwAuAHAAZABmAA==0Reaffirming $78 target 7451055CVS Health CorpCVS /Default.aspx?mode=anote&action=redirect&id=5105512017-08-10T07:03:08.207aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA5ADAALwAwADcALQBDAEEANQAwADIAMQA2AEQALQAzAEUAQwAxAC0ANAA4ADkARAAtADgAQQBCADUALQA0ADUANwAzAEUAQQAyADcAQwBEADMAMQAuAHAAZABmAA==0Maintaining BUY and $92 target 7551054Chemours CompanyCC /Default.aspx?mode=anote&action=redirect&id=5105412017-08-10T07:03:08.207aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA5ADAALwAwADgALQBDAEMAQQBGADcAMwA4ADUALQA5ADgAMQA4AC0ANABBADAANAAtADgARQBDAEEALQAzADcANgBEADkAMgAzADAAMQBDAEUAOQAuAHAAZABmAA==0Reiterating BUY and raising target to $55 7651053CBS Corp.CBS /Default.aspx?mode=anote&action=redirect&id=5105312017-08-10T07:03:08.207aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA5ADAALwAwADkALQBFADMAMwAwADgANwAxAEMALQA1AEIAMgAzAC0ANABEADkARgAtADgARAA5ADEALQBEAEIAOQA0ADYAQQAxAEYAOAA5ADgAQgAuAHAAZABmAA==0Raising target by $8 to $79 7751052British American TobaccoBTI /Default.aspx?mode=anote&action=redirect&id=5105212017-08-10T07:03:08.207aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA5ADAALwAxADAALQBEAEYARQAxAEEANgAyADMALQBEADMANgBFAC0ANABFADcAMwAtADkANAA5ADAALQAzADQAOAA2AEQAQwA0ADYARgAzADEAOAAuAHAAZABmAA==0Maintaining BUY and $75 target 7851051Bristol-Myers Squibb Co.BMY /Default.aspx?mode=anote&action=redirect&id=5105112017-08-10T07:03:08.207aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA5ADAALwAxADEALQBFAEIAMgBFAEIAQQBEAEEALQA0ADcANABBAC0ANAA2ADQAOQAtAEEAMwAwADIALQBDAEMAMgA4ADcAMgAxADEARQAyAEYAQQAuAHAAZABmAA==0Opdivo benefits from setback for rival product 7951048Praxair IncPX /Default.aspx?mode=anote&action=redirect&id=5104822017-08-09T12:29:16.170aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA5ADYALQA3ADAANwA2AEYAMgAwADgALQBGADEARgAwAC0ANAA3ADYAQgAtAEEAQgBBADUALQA0ADMAMQA0ADIAMgAwADAARQBEADYAQgAuAHAAZABmAA==0Reaffirming HOLD following 2Q results 8051047Priceline Group IncPCLN /Default.aspx?mode=anote&action=redirect&id=5104712017-08-09T12:29:16.170aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA5ADcALQBEADkAMwBCADQAMQAwADIALQAxAEUAMgBCAC0ANABCADIANQAtAEIAOAA5AEMALQBBADMAQQAxADQAOQAzADUANQAyAEQAQwAuAHAAZABmAA==0Strong second quarter; raising target price by $100 8151034Kellogg CoK /Default.aspx?mode=anote&action=redirect&id=5103422017-08-09T06:59:01.203aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA4ADIALQAxADEAQgAwADcAQgBCADgALQBBADQAOQBCAC0ANAA2ADAANQAtADgAOQAxAEYALQA1ADkARgBGAEYARQA1ADMANwAzADEAOQAuAHAAZABmAA==0Reaffirming HOLD following second-quarter results 8251033Quest Diagnostics IncDGX /Default.aspx?mode=anote&action=redirect&id=5103322017-08-09T06:59:01.203aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA4ADMALQA5AEIANABGADMANAA0AEEALQBDADAAOABCAC0ANAA2AEMAMAAtAEIAQgA3ADEALQAzADYAMAA4AEEANQA1ADMAOABFADMARQAuAHAAZABmAA==0Solid long-term outlook, but stock fully valued 8351032Metlife IncMET /Default.aspx?mode=anote&action=redirect&id=5103212017-08-09T06:59:01.203aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA4ADQALQAwADkAMABDAEQAMwBCAEUALQA1AEIAMQAyAC0ANAA4ADYANAAtADkAQwBEADYALQBCADIAQQA3AEYAQgA5AEYANwBBADUANAAuAHAAZABmAA==0Lowering target to $55 following Brighthouse spinoff 8451031Express Scripts Holding CoESRX /Default.aspx?mode=anote&action=redirect&id=5103122017-08-09T06:59:01.203aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA4ADUALQAwADMAMQA5ADkARgAzADgALQAyAEIARQA5AC0ANABCAEYARQAtAEEAMwA2AEIALQAyAEQAMgA3ADAANAAyADAANgBFADUARQAuAHAAZABmAA==0Facing pressure from Anthem contract termination 8551028Discovery Communications IncDISCA /Default.aspx?mode=anote&action=redirect&id=5102822017-08-08T13:37:14.600aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA3ADUALQBEADYAMABGADAARgAzADgALQBDADgANAAyAC0ANAAyAEEAMwAtAEEARgA0AEIALQAyADkAQwBEAEMAQQBEAEYARgBEAEUAMAAuAHAAZABmAA==0Agrees to acquire Scripps Networks 8651027Marriott International, Inc.MAR /Default.aspx?mode=anote&action=redirect&id=5102712017-08-08T13:37:14.600aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA3ADYALQAxAEYANQA3ADgAQQAyAEIALQBFADYAQQBBAC0ANAA4ADAANwAtADkAMQA1ADEALQBFADkANwAyAEEAMgAyADYAMwA3ADEAOQAuAHAAZABmAA==0Strong quarter, raised guidance 8751017New York Times CoNYT /Default.aspx?mode=anote&action=redirect&id=5101722017-08-08T07:03:50.390aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA2ADAALQAzADIAMQAwADQAMQA1ADkALQA5ADgAMQAzAC0ANABCADUAMwAtAEEAQgA0AEQALQA5ADMAOQA1ADAAMQAwADIAMAA0AEMARgAuAHAAZABmAA==0Strong 2Q, but stock fairly valued 8851016Ethan Allen Interiors IncETH /Default.aspx?mode=anote&action=redirect&id=5101622017-08-08T07:03:50.390aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA2ADEALQAwAEEAOAA1AEQAOQAyAEUALQBEADgARgBBAC0ANAA2AEYARAAtADkANQA4ADUALQBCAEMAMgAzAEEANAAwADYANQA4ADYARQAuAHAAZABmAA==0Initiating FY19 estimate at $2.00 8951015Nabors Industries LtdNBR /Default.aspx?mode=anote&action=redirect&id=5101522017-08-08T07:03:50.390aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA2ADIALQAwAEQAQgAxADUAQgBFADkALQAzADgAQgBBAC0ANABFADMARAAtAEEAQgA5ADYALQAxADcAMAA4ADUAOQA2ADAARAAzADUAMQAuAHAAZABmAA==0Maintaining HOLD on challenging outlook 9051014Integra Lifesciences Hldgs CorIART /Default.aspx?mode=anote&action=redirect&id=5101412017-08-08T07:03:50.390aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA2ADMALQBFADcAMwA4ADUANQA4ADYALQBCADAAMQAyAC0ANAA5ADcAQgAtADkARgAzADUALQA2AEEAQgA0ADkAQQBBADIANwAzAEUAQgAuAHAAZABmAA==0Reiterating BUY and $64 target 9151013Berkshire Hathaway IncBRK/B /Default.aspx?mode=anote&action=redirect&id=5101322017-08-08T07:03:50.390aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA2ADQALQBEADUAMABBADUAMgAzADIALQBFAEMARABBAC0ANABDADUAQgAtAEEARgA2ADQALQA4ADcANQBDAEUAMABDADQARgAzADEAQgAuAHAAZABmAA==0Strength in manufacturing and railroad offset by insurance underwriting losses 9251012American Intl Grp InAIG /Default.aspx?mode=anote&action=redirect&id=5101212017-08-08T07:03:50.390aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA2ADUALQA0AEMAQgBCAEEAMAA4ADYALQA0ADAAOQAxAC0ANABEAEEAQgAtADgAMABEADcALQAyADYAQwBFADkARgA1AEIAMAAxADQAOQAuAHAAZABmAA==0Solid 2Q as new CEO fuels optimism 9351011Tesla IncTSLA /Default.aspx?mode=anote&action=redirect&id=5101112017-08-08T07:03:50.390aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA2ADYALQAzADEAQQBFAEQANQBBADYALQAwADgANAA4AC0ANAA1ADEAQgAtAEEAQgBBADAALQBCADIAQgA2AEYAQgA4AEYAQgA4ADkAQwAuAHAAZABmAA==1Upgrading to BUY with target of $444 9451006Vulcan Materials Co (Hldg CoVMC /Default.aspx?mode=anote&action=redirect&id=5100612017-08-07T13:44:07.830aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA0ADQALQBGAEUAMABFAEEANQBDADIALQA5ADYARQBEAC0ANAA3AEMARQAtADgANAA4ADUALQAzADkARAA4ADEAMABFADUAOABFADQANgAuAHAAZABmAA==0Pullback offers favorable entry point 9551005Transocean LtdRIG /Default.aspx?mode=anote&action=redirect&id=5100522017-08-07T13:44:07.830aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA0ADUALQAzADYAMgAxAEYARABGAEUALQA3ADQANwBEAC0ANABBADUARAAtAEIANgAzADgALQAxAEEANAA0AEMARgAxAEQAMgBGAEMARgAuAHAAZABmAA==0Continued challenging outlook; reiterating HOLD 9651004Dow Chemical CoDOW /Default.aspx?mode=anote&action=redirect&id=5100412017-08-07T13:44:07.830aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA0ADYALQAzAEYAOQAxADUARAAzADQALQA5AEYAMQAyAC0ANAAyADMARgAtAEIARQBGADMALQA2ADIARAAyADAAOQA4ADEAQQA4ADEAMQAuAHAAZABmAA==0DuPont merger on track for August closing 9751003MGM Resorts InternationalMGM /Default.aspx?mode=anote&action=redirect&id=5100312017-08-07T13:44:07.830aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA0ADcALQAzAEYANAA1ADgAQwA1AEIALQBGADQARgAxAC0ANABFADIARgAtADgAOQAxAEQALQAwADYAOQA0ADQANQA1AEMANwBGADMANgAuAHAAZABmAA==0Solid 2Q; raising target by $2 to $38 9851002Electronic ArtsEA /Default.aspx?mode=anote&action=redirect&id=5100222017-08-07T13:44:07.830aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwA0ADgALQBDADUAMwA3ADYAOAA2ADMALQA0AEMAMgA3AC0ANAAyADAAOQAtADgAMgAxADQALQAzADYAQQBBADIARAAzADQAMQAyAEQAQwAuAHAAZABmAA==0Strong June quarter 9950990General Motors CoGM /Default.aspx?mode=anote&action=redirect&id=5099022017-08-07T07:09:52.043aAB0AHQAcAA6AC8ALwByAGUAcwBvAHUAcgBjAGUAcwAuAGEAcgBnAHUAcwByAGUAcwBlAGEAcgBjAGgALgBjAG8AbQAvAHIAZQBwAG8AcgB0AHMALwAwADAALwAwADAALwAxADQALwA4ADkALwAyADUALQA4AEQANgA3AEIAOAA0ADEALQAwAEQANwBEAC0ANAA5ADgARgAtADkAMQAxADQALQBGAEMAQgBEADkANAA1ADEAMAAxADYANQAuAHAAZABmAA==0Strong quarter but challenging outlook 100

195452017-08-21T07:51:10.790Debt Evenly Distributed51230190Daily Spotlight2017-08-21T07:35:51.680NYSE

According to the Board of Governors of the Federal Reserve System, current debt is fairly evenly distributed among key major sectors. But that has not always been the case. The Fed releases quarterly reports that detail outstanding debt securities and loans by sector. The Fed divides total debt into six sectors that, when combined, total $66.5 trillion. The largest debt holders are Treasury (holding $15.9 trillion in debt), Domestic financial ($15.7 trillion), Households ($14.9 trillion) and Business ($13.7 trillion). The trailing two are Foreign ($3.2 trillion), and State government/Local government ($3.1 trillion). Although debt carries with it the risk of default, healthy economies rely on leverage to fuel growth. Still, debt can become too risky when it is overly concentrated in specific sectors. Debt became increasingly concentrated within the Domestic financial sector in the years leading up to the 2008 crisis, peaking at 33%. The buildup of debt (primarily mortgage) within the Domestic financial sector made banks unwilling to lend, which caused a nationwide credit crunch that led to the recession of 2008-2010.

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