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ASIX

AdvanSix

$16.41

-0.18 (-1.09%)

, VSM

Versum Materials

$28.00

5.3 (23.35%)

08:30
10/04/16
10/04
08:30
10/04/16
08:30

Two new option listings and one option delisting on October 4th

New option listings for October 4th include AdvanSix Inc (ASIX) and Versum Materials Inc (VSM). Option delistings effective October 4th include IMS Health Holdings Inc (IMS).

ASIX

AdvanSix

$16.41

-0.18 (-1.09%)

VSM

Versum Materials

$28.00

5.3 (23.35%)

IMS

IMS Health

ASIX AdvanSix
$16.41

-0.18 (-1.09%)

VSM Versum Materials
$28.00

5.3 (23.35%)

10/03/16
FBCO
10/03/16
INITIATION
Target $27
FBCO
Outperform
Versum Materials initiated with an Outperform at Credit Suisse
Credit Suisse analyst Kieran de Brun initiated Versum Materials with an Outperform and a a $27 price target. The analyst said Versum has best-in-class margins, leading technology that strategically integrates its platform with customers to benefit from secular growth trends in the semiconductor industry, and the ability to pursue accretive M&A due to robust free cash flow generation.
10/03/16
MSCO
10/03/16
INITIATION
Target $24
MSCO
Equal Weight
Versum Materials initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Neel Kumar initiated Versum Materials with an Equal Weight and a $24 price target. The analyst views the current 11x multiple as an appropriate valuation level given expectations for 10% earnings CAGR in 2016-2018.
10/03/16
GHSC
10/03/16
INITIATION
Target $29
GHSC
Buy
Versum Materials initiated with a Buy at Seaport Global
Seaport analsyt Michael Harrison initiated Versum Materials with a Buy and a $29 price target given sustainable margin improvement, secular growth opportunities, and potential value creation through consolidation. Versum's volumes should grow with semiconductor demand, which is becoming less cyclical as applications diversify to include mobility, automotive, industrial, and the Internet of Things, the analyst wrote.
10/03/16
10/03/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. 3D Systems (DDD) coverage transferred with a Market Perform at FBR Capital. 2. Carnival (CCL) initiated with a Buy at HSBC. 3. GoDaddy (GDDY) initiated with a Buy at Summit Redstone. 4. Versum Materials (VSM) initiated with a Buy at Seaport Global. 5. ExOne (XONE) coverage transferred with an Outperform at FBR Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
IMS IMS Health

05/12/16
WELS
05/12/16
DOWNGRADE
WELS
Market Perform
Quintiles downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Tim Evans downgraded Quintiles (Q) to Market Perform saying recent checks with pharma contacts have cast doubt on the strategic rationale on the company's merger with IMS Health (IMS). Further, the analyst believes the SEC will likely not permit the combined company to use cash tax reporting, which he estimates would create 3% dilution in 2017 rather than 5% accretion using cash taxes. Evans cut his price target range for Quintiles shares to $66-$70 from $73-$75.
05/12/16
WELS
05/12/16
DOWNGRADE
WELS
Market Perform
IMS Health downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Jamie Stockton downgraded IMS Health (IMS) to Market Perform in concert with colleague Tim Evans' downgrade today of Quintiles (Q). The analyst has a $27-$30 price target range for the shares.
05/12/16
05/12/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Macy's (M) downgraded to Neutral at Northcoast by analyst Jeff Stein, who said the Q1 earnings call produced more questions than answers. The analyst added that sales were surprisingly weak and inventories are too high. 2. General Electric (GE) resumed with an Underweight at JPMorgan with analyst C. Stephen Tusa saying the current risk/reward on the shares is unfavorable given the stubbornly high earnings expectations, weak underlying earnings quality and a premium valuation. 3. CPI Card Group (PMTS) downgraded to Neutral at Goldman by analyst James Schneider, who believes fundamentals are unlikely to recover until Q4 at the earliest and execution will need to improve before the stock can move higher. CPI Card Group was also downgraded to Market Perform at BMO Capital , to Neutral at Baird and to Sector Perform at CIBC. 4. Quintiles (Q) and IMS Health (IMS) downgraded to Market Perform at Wells Fargo by analysts Tim Evans and Jamie Stockton. Evans said recent checks with contacts have cast doubt on the strategic rationale with the company's merger with IMS Health (IMS). 5. Minerals Technologies (MTX) downgraded to Neutral from Outperform at Wedbush. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/28/16
UBSW
06/28/16
NO CHANGE
Target $78
UBSW
Buy
Quintiles offers compelling risk/reward, says UBS
UBS said Quintiles (Q) shares offer a compelling risk/reward. Investors are under-appreciating the near-term strength in Quintiles' business and the potential for its merger with IMS Health (IMS) to provide significant competitive advantages, said the firm, which reiterated its Buy rating and $78 price target on Quintiles shares.

TODAY'S FREE FLY STORIES

AVA

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MNOV

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ISRG

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GD

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CHRS

Coherus Biosciences

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FIBK

First Interstate

$36.90

0.3 (0.82%)

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NRCIA

National Research, also tag NRCIB

$37.45

0.55 (1.49%)

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CC

Chemours

$51.79

-0.16 (-0.31%)

, HON

Honeywell

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AGN

Allergan

$204.65

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HON

Honeywell

$141.75

0.89 (0.63%)

, CC

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ARCI

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RNVA

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ARCI

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EKSO

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UNH

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FSLR

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FINL

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ASND

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VSAR

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DLR

Digital Realty

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