Irrobuxtiamo la strategia – 26 Febbraio 2018

Cari buxiti,

- Dividendi della scorsa settimana: Nvidia dal 22/2 (0,26%), J&J dal 26/2
(2.58%), GE dal 23/2 (3.20%), Delta dal 22/2 (2,34%).
http://bit.ly/2EVOGy3
Dividendi di questa settimana: dal 1/3 Bank of America (1,50%), Pepsico
(2,94%), dal 28/2 McDonald’s (2,57%), Goldman Sachs (1,13%), dal 2/3
Nike (1,19%), dal 27/2 Qualcomm (3,60%).
https://moneymorning.com/2018/02/26/the-sinister-reason-hedge-funds-
dont-like-apple-right-now/

- Per la cronaca, vari hedge funds hanno appena iniziato a shortare il Nasdaq.
https://bloom.bg/2F6jVKa

- BlackRock invece aumenta l’ottimismo, grazie anche allo stimolo fiscale della
recente riforma (e rimette l’Europa in neutral). Le loro attese sono per un
aumento del 19% degli earnings quest’anno e fanno notare come ogni
downgrade sia succeduto, in media da due upgrade.
http://cnb.cx/2obNNLM

- Secondo quest’analisi, l’S&P500 potrebbe a breve andare in reversal e

ricadere a livelli ancora piú bassi di quelli visti poco fa.
http://bit.ly/2EVmqvC

- Tra le soluzioni per controbilanciare il nostro portfolio in questi tempi di

volatilitá c’è pure una parte (max 5/10%) in oro, il quale, secondo Goldman
Sachs, ha un TP di $1350, $1375 e $1450 entro 3, 6 e 12 mesi.
http://bit.ly/2F5VQDq

- Baidu sembra essere ben piazzato per ulteriore crescita, grazie agli
investimenti nell’Intelligenza Artificiale.
http://bit.ly/2EVmvzq

- Quest’analisi su Delta mettere sotto i riflettori il fatto che: la compagnia è

troppo rigida coi cicli (vacanze, non vacanze) e non aggiusta il prezzo del
petrolio conseguentemente, ha un PE troppo elevato anche per l’industria

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 Irrobuxtiamo la strategia – 26 Febbraio 2018
intera, non hanno un potere d’acquisto eccezionale per quanto riguarda i
veicoli, non possono competere per il mercato indiano e senza considerare le
altre compagnie del golfo.
http://bit.ly/2GJxgp2
Investimento da cui tenersi lontano per il momento: Delta.
http://bit.ly/2FyrUh5

- Apple sembra potersi muovere verso una politica economica di minori

margini (ergo prezzi minori) il che potrebbe migliorare il P/E.
http://bit.ly/2EUu5ua
Articolo interessante; sembra che varie banche di investimento stiano
denigrando Apple per allontare investitori, ridurre il prezzo e acquistare a
poco. Detta cosí sembrerebbe aggiotaggio puro, ancora non realizzo bene
l’informazione.
https://moneymorning.com/2018/02/26/the-sinister-reason-hedge-funds-
dont-like-apple-right-now/

- Partnership strategica per Microsoft nell’A.I.

http://bit.ly/2F1XLc2

- Alibaba dovrebbe beneficiare di Ant Financial’s IPO. Le tempistiche sono

incerte, ma non il beneficio.
http://bit.ly/2oq6s6y

- Visa versus Mastercard: Visa ha piú brand awareness, migliori margini,

dimensioni e scalabilitá. Ma Mastercard genera piú revenues e lavora con piú
leva (e ottiene un migliore ROE). In conclusione, siamo in un mercato di
duopolio, ergo buoni ritorno per entrambi.
http://bit.ly/2FuR0NN
Mastercard potrebbe essere leggermente cara ma sembra ancora un buon
momento per entrare.
http://bit.ly/2CHQ6ub

- Salesforce ottiene un upgrade di TP ($130, +14%) da Cowen. Stato attuale:

23 BUY, 19 OUTPERFORM, 3 HOLD, 1 UNDERPERFORM.
http://bit.ly/2EQF9wh

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 Irrobuxtiamo la strategia – 26 Febbraio 2018
- Secondo un’analisi DCF, Facebook, potrebbe avere un margine di crescita del
50%.
http://bit.ly/2FwnEyB
FB versus Amazon: Amazon è giá cresciuto del 50% in 6 mesi (da $1000 a
poco meno di $1500) e FB non si è apprezzato cosí tanto.
http://bit.ly/2F7f1wq
CBH rialza il TP di Amazon e vede un upside del 23% (TP a $1850). A questo
prezzo, Amazon diverrebbe la prima compagnia da un trilione.
https://seekingalpha.com/news/3334164-credit-suisse-sees-bumpy-road-
walmart?uprof=45&dr=1#email_link

- Intel sembra essere ben posizionata per il futuro: free cash flow in aumento,
EPS ridotto, dividendo interessante, buoni investimenti, e buona crescita di
revenue ed earnings.
http://bit.ly/2ESVlJs

- Progetti di regulation del bitcoin in Giappone, Austria e Georgia (US).

http://bit.ly/2otmU5O

- Nomura conferma la nostra posizione in Intel e prevede un 26% upside (TP a

$60).
http://bit.ly/2BUeagV

- Wal-Mart potrebbe facilmente aumentare il dividendo, durante l’annuncio

degli earnings. Bloomberg parla di $0,01 in piú, per raggiungere $0,52.
http://bit.ly/2owwZ1l
Wal-mart delude le attese, ecco i dati: vendite a +2,6%, traffic a +1,6%,
vendite e-commerce a +23%, vendite internazionali a +6,7% ed EPS a
$4,75/5.00 contro un consenso di $5.13.
http://bit.ly/2F45PJd
Credit Suisse inizia il coverage di Wal-Mart con rating neutral, menzionando
una strada in salita per il prossimo futuro.
https://seekingalpha.com/news/3334164-credit-suisse-sees-bumpy-road-
walmart?uprof=45&dr=1#email_link
Wal-Mart mantiene dati di base positivi, non cadete nella trappola degli
earnings. I dati mostrano dall’aumento in fee-cash-flow, traffic, vendite retail
e guadagni degli azionisti.
http://bit.ly/2EWNGOj

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 Irrobuxtiamo la strategia – 26 Febbraio 2018

ValueEngine reputa Wal-Mart un BUY con i seguenti TP: 1 mese a $94,60, 3

mesi a $94,78, 6 mesi a $97,52 e 1 anno a $99.93. Personalmente, penso che le
stime siano troppo conservative, ma i calcoli sono interessanti.
http://bit.ly/2ETpUCW

- Bank of America versus Citi vede BoA vincente, secondo questo articolo,
sebbene siano entrambi validi titolo.
http://bit.ly/2ETpUCW
Citi mira ai clienti ricchi dell’Asia.
http://bit.ly/2CHQ6ub

- Alphabet (Google) ha recentemente implementato una funziona AdBlock; gli

investitori meno accorti, hanno venduto, mentre quelli piú furbi hanno intuito
il potenziale, dato che il blocco agirá solo sugli advertisement ritenuti piú
intrusivi, quindi migliorando il proprio prodotto.
http://bit.ly/2ETpUCW

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 Irrobuxtiamo la strategia – 26 Febbraio 2018
- Per quelli che si preoccupano di Nvidia e delle recenti prestazioni, non
dimenticatevi che è recentemente andata in dividend e che un calo è
fisiologico.
http://bit.ly/2GM5yIb

Trading ideas
Ecco un esempio di analisi tecnica che io chiamo “cieca”. Come avrete visto, Alibaba
sembra formare il pattern “Elliott”, caratterizzato da quelle curve e cali.
Peccato che almeno uno dei due (il maggiore), sia causato da una recessione globale
che influenza il titolo e che non dovrebbe essere considerata.
http://bit.ly/2EUuTDa

McDonald’s sembra aver rotto il trend negativo.

http://bit.ly/2HKUv3p

E Nvidia potrebbe aver superato la sua resistenza.

http://bit.ly/2HKUyfB

Facebook potrebbe aver toccato la soglia bassa di resistenza.

http://bit.ly/2F68sdF

E Facebook potrebbe essere in canale ascendente.

http://bit.ly/2FxAfSg

Alerts

Up/Downgrade

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 Irrobuxtiamo la strategia – 26 Febbraio 2018
Da 24/7 Wall St.
Rio Tinto PLC (NYSE: RIO) was downgraded to Neutral from Buy at Merrill Lynch.

Snap Inc. (NYSE: SNAP) was downgraded to Sell from an already cautious Neutral rating and
the price target was $14 (versus a $20.42 close) at Citigroup.

Walmart Inc. (NYSE: WMT) was maintained as Buy at Merrill Lynch in a flash note after
earnings sent shares 6% lower to about $98. Its view is that e-commerce and Jet sales should
reaccelerate in fiscal year 2019 and the firm kept Walmart as its top pick in the so-called
Discount Store Decade. Walmart has a 52-week trading range of $69.33 to $109.98, and it had a
consensus target price of $108.27.

eBay Inc. (NASDAQ: EBAY) was reiterated as Buy and the price target was raised to $50 at
Argus, with the independent research firm noting that it has raised earnings expectations and
that eBay deserves a higher multiple.

Time Warner Inc. (NYSE: TWX) was reiterated as Buy with a $107 target at Argus, noting the
shares are 13% under AT&T’s buyout price of $107.50. The firm sees it attractive on its own and
growing earnings ahead.

Palo Alto Networks Inc. (NYSE: PANW) was raised to Positive from Neutral with a $195 price
target (versus a $162.92 close) at Susquehanna.

Walmart Inc. (NYSE: WMT) shares fell 10.2% to $94.11 on Tuesday after weak e-commerce
sales and guidance. The stock was maintained as Outperform but the price target was cut to
$110 from $120 at Telsey Advisory. It was maintained as Hold but the target price was cut to
$99 from $104 at Stifel. Walmart was maintained as Buy at Merrill Lynch in a flash note after
earnings on Tuesday. The 52-week range is $69.33 to $109.98.

HP Inc. (NYSE: HPQ) was raised to Overweight from Neutral with a $28 price target (versus a
$22.13 close) at JPMorgan. More than a half-dozen other upgrades were also seen on Friday.

Schlumberger Ltd. (NYSE: SLB) was raised to Buy from Neutral with a $75 price objective
(versus a $66.50 close) at Merrill Lynch.

Da MarketBeat.com

 Kraft Heinz (NASDAQ:KHC) was upgraded by analysts at DZ Bank AG from a "hold"

rating to a "buy" rating. current price of $70.80. Read More.
 ArcelorMittal (NYSE:MT) was upgraded by analysts at Bank of America Corp from a
"neutral" rating to a "buy" rating. current price of $35.63. Read More.
 Rio Tinto (NYSE:RIO) was downgraded by analysts at Bank of America Corp from a
"buy" rating to a "neutral" rating. current price of $56.67. Read More.

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 Irrobuxtiamo la strategia – 26 Febbraio 2018
 RWE (OTCMKTS:RWEOY) was downgraded by analysts at HSBC Holdings plc from a
"buy" rating to a "hold" rating. current price of $20.24. Read More.
 Snap (NYSE:SNAP) was downgraded by analysts at Citigroup Inc from a "neutral" rating
to a "sell" rating. They now have a $13.00 price target on the stock. 33.8% downside
from the current price of $19.65. Read More.
 salesforce.com (NYSE:CRM) had its price target raised by analysts at Credit Suisse
Group AG from $120.00 to $130.00. They now have an "outperform" rating on the stock.
13.4% upside from the current price of $114.66. Read More.
 salesforce.com (NYSE:CRM) had its price target raised by analysts at Deutsche Bank
AG from $120.00 to $130.00. They now have a "buy" rating on the stock. 13.4% upside
from the current price of $114.66. Read More.
 HSBC (LON:HSBA) had its price target raised by analysts at Credit Suisse Group AG
from GBX 650 ($8.98) to GBX 680 ($9.39). They now have an "underperform" rating on
the stock. Read More.
 Kraft Heinz (NASDAQ:KHC) had its price target lowered by analysts at JPMorgan
Chase & Co. from $87.00 to $81.00. They now have an "overweight" rating on the stock.
14.4% upside from the current price of $70.80. Read More.
 Kraft Heinz (NASDAQ:KHC) had its price target lowered by analysts at BMO Capital
Markets to $74.00. They now have a "market perform" rating on the stock. 4.5% upside
from the current price of $70.80. Read More.
 The Coca-Cola (NYSE:KO) had its price target raised by analysts at Credit Suisse
Group AG from $51.00 to $53.00. They now have an "outperform" rating on the stock.
19.5% upside from the current price of $44.36. Read More.
 Amazon.com (NASDAQ:AMZN) was upgraded by analysts at Wolfe Research from a
"peer perform" rating to an "outperform" rating. current price of $1,491.60. Read More.
 BT Group (NYSE:BT) was upgraded by analysts at Berenberg Bank from a "hold" rating
to a "buy" rating. current price of $17.19. Read More.
 BT Group (LON:BT.A) was upgraded by analysts at Berenberg Bank to a "buy" rating.
They now have a GBX 310 ($4.28) price target on the stock, down previously from GBX
320 ($4.42). Read More.
 Chevron (NYSE:CVX) was upgraded by analysts at BNP Paribas from an
"underperform" rating to a "neutral" rating. current price of $111.86. Read More.
 E.On (OTCMKTS:EONGY) was upgraded by analysts at Societe Generale from a "hold"
rating to a "buy" rating. current price of $10.70. Read More.
 BAE Systems (LON:BA) was downgraded by analysts at JPMorgan Chase & Co. to an
"underweight" rating. They now have a GBX 550 ($7.60) price target on the stock, down
previously from GBX 555 ($7.67). Read More.
 BAE Systems (OTCMKTS:BAESY) was downgraded by analysts at JPMorgan Chase &
Co. from a "neutral" rating to an "underweight" rating. current price of $32.00. Read
More.
 Boeing (NYSE:BA) had its price target raised by analysts at Morgan Stanley from
$340.00 to $373.00. They now have a "weight" rating on the stock. 4.7% upside from the
current price of $356.24. Read More.
 eBay (NASDAQ:EBAY) had its price target raised by analysts at Argus to $50.00. They
now have a "buy" rating on the stock. 15.1% upside from the current price of
$43.45. Read More.

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 Irrobuxtiamo la strategia – 26 Febbraio 2018
 HP (NYSE:HPQ) had its price target raised by analysts at Maxim Group from $25.00 to
$27.00. They now have a "hold" rating on the stock. 20.0% upside from the current price
of $22.50. Read More.
 HP (NYSE:HPQ) had its price target raised by analysts at Deutsche Bank AG from
$25.00 to $27.00. They now have a "buy" rating on the stock. 20.0% upside from the
current price of $22.50. Read More.
 HP (NYSE:HPQ) had its price target raised by analysts at BMO Capital Markets from
$23.00 to $24.00. They now have a "market perform" rating on the stock. 6.7% upside
from the current price of $22.50. Read More.
 Amazon.com (NASDAQ:AMZN) was upgraded by analysts at Wolfe Research from a
"peer perform" rating to an "outperform" rating on Friday. current price of $1,500.00. This
rating was viewed 70 times. Read More.
 Deutsche Bank (NYSE:DB) was upgraded by analysts at Bank of America Corp from an
"underperform" rating to a "neutral" rating on Monday. current price of $16.43. This
rating was viewed 62 times. Read More.
 Weir Group (OTCMKTS:WEGRY) was upgraded by analysts at Jefferies Group LLC
from an "underperform" rating to a "hold" rating. current price of $14.19. Read More.
 Weir Group (OTCMKTS:WEIGF) was upgraded by analysts at Jefferies Group LLC
from an "underperform" rating to a "hold" rating. current price of $29.84. Read More.
 Weir Group (LON:WEIR) was upgraded by analysts at Jefferies Group LLC to a "hold"
rating. They now have a GBX 2,270 ($31.36) price target on the stock, up previously
from GBX 930 ($12.85). Read More.
 Palo Alto Networks (NYSE:PANW) was upgraded by analysts at Susquehanna
Bancshares Inc from a "neutral" rating to a "positive" rating. They now have a $145.00
price target on the stock. 12.9% downside from the current price of $166.38. Read More.
 Zalando (OTCMKTS:ZLDSF) was upgraded by analysts at Royal Bank of Canada from
an "underperform" rating to a "sector perform" rating. current price of $58.50. Read
More.
 HSBC (LON:HSBA) had its price target lowered by analysts at Morgan Stanley from
GBX 850 ($11.74) to GBX 820 ($11.33). They now have an "overweight" rating on the
stock. Read More.
 JPMorgan Chase & Co. (NYSE:JPM) had its price target raised by analysts at Morgan
Stanley from $133.00 to $136.00. They now have an "overweight" rating on the stock.
16.7% upside from the current price of $116.52. Read More.
 Lloyds Banking Group (LON:LLOY) had its price target raised by analysts at Morgan
Stanley from GBX 75 ($1.04) to GBX 78 ($1.08). They now have an "equal weight"
rating on the stock. Read More.
 BP (LON:BP) was upgraded by analysts at Royal Bank of Canada from a "sector
perform" rating to an "outperform" rating. They now have a GBX 570 ($7.88) price target
on the stock, up previously from GBX 550 ($7.60). Read More.
 Halliburton (NYSE:HAL) was downgraded by analysts at Bank of America Corp from a
"buy" rating to a "neutral" rating. They now have a $50.00 price target on the stock. 3.7%
upside from the current price of $48.20. Read More.
 Walmart (NYSE:WMT) is now covered by analysts at Credit Suisse Group AG. They set
a "neutral" rating and a $102.00 price target on the stock. 10.1% upside from the current
price of $92.67. Read More.

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 Irrobuxtiamo la strategia – 26 Febbraio 2018
 BAE Systems (LON:BA) had its price target lowered by analysts at Deutsche Bank AG
from GBX 730 ($10.09) to GBX 708 ($9.78). They now have a "buy" rating on the
stock. Read More.
 British American Tobacco (LON:BATS) had its price target lowered by analysts at
Berenberg Bank from GBX 5,720 ($79.03) to GBX 5,340 ($73.78). They now have a
"buy" rating on the stock. Read More.
 salesforce.com (NYSE:CRM) had its price target raised by analysts at Oppenheimer
Holdings Inc. from $125.00 to $135.00. They now have an "outperform" rating on the
stock. 16.5% upside from the current price of $115.85. Read More.
 Cisco Systems (NASDAQ:CSCO) had its price target raised by analysts at Morgan
Stanley from $46.00 to $50.00. They now have an "overweight" rating on the stock.
11.5% upside from the current price of $44.84. Read More.
 Intel (NASDAQ:INTC) had its price target raised by analysts at Nomura from $50.00 to
$60.00. They now have a "buy" rating on the stock. 25.7% upside from the current price
of $47.73. Read More.
 Walmart (NYSE:WMT) had its price target lowered by analysts at Morgan Stanley from
$106.00 to $99.00. They now have an "equal weight" rating on the stock. 6.8% upside
from the current price of $92.67. Read More.

Insider sales:

 Da GuruAlert, il COB e CEO (almeno 10% di azioni) ha venduto il 23 Febbraio

2018 ha venduto 220.000 azioni al prezzo di 181.89.
 General Motors (NYSE:GM) (TSE:GMM.U) EVP Mark L. Reuss sold 165,944 shares of
the stock in a transaction that occurred on Thursday, February 15th. The shares were
sold at an average price of $41.85, for a total transaction of $6,944,756.40. Following the
sale, the executive vice president now directly owns 369,878 shares of the company's
stock, valued at approximately $15,479,394.30. The transaction was disclosed in a filing
with the Securities & Exchange Commission, which can be accessed through this
hyperlink. This trade was viewed 45 times. Read More.
 Alphabet Inc (NASDAQ:GOOG) CEO Sundar Pichai sold 4,000 shares of the stock in a
transaction that occurred on Wednesday, February 21st. The shares were sold at an
average price of $1,106.68, for a total transaction of $4,426,720.00. Following the sale,
the chief executive officer now directly owns 642 shares of the company's stock, valued
at approximately $710,488.56. The transaction was disclosed in a filing with the
Securities & Exchange Commission, which can be accessed through this hyperlink. This
trade was viewed 75 times. Read More.
 Illumina, Inc. (NASDAQ:ILMN) SVP Oene Mark Van sold 1,408 shares of the stock in a
transaction that occurred on Friday, February 16th. The shares were sold at an average
price of $228.85, for a total transaction of $322,220.80. Following the sale, the senior
vice president now directly owns 15,760 shares of the company's stock, valued at
approximately $3,606,676. The transaction was disclosed in a filing with the Securities &

Page 9 of 10
 Irrobuxtiamo la strategia – 26 Febbraio 2018
Exchange Commission, which can be accessed through this hyperlink. This trade was
viewed 59 times. Read More.
 Microsoft Co. (NASDAQ:MSFT) EVP Christopher C. Capossela sold 3,500 shares of
the stock in a transaction that occurred on Tuesday, February 20th. The shares were
sold at an average price of $93.00, for a total transaction of $325,500.00. Following the
sale, the executive vice president now directly owns 174,778 shares of the company's
stock, valued at approximately $16,254,354. The transaction was disclosed in a filing
with the Securities & Exchange Commission, which can be accessed through this
hyperlink. This trade was viewed 44 times. Read More.


Da Daily Trade Alert:

 Snap (SNAP) downgraded by Citi from Neutral to Sell

 Rio Tinto (RIO) downgraded by BofA/Merrill from Buy to Neutral
 BT Group (BT) upgraded by Deutsche Bank from Sell to Hold
 Palo Alto Networks (PANW) upgraded by Susquehanna from Neutral to Positive
 HSBC (HSBC) downgraded by Societe Generale from Buy to Hold
 Schlumberger (SLB) upgraded by BofA/Merrill from Neutral to Buy
 Halliburton (HAL) downgraded by BofA/Merrill from Buy to Neutral


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