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TSLA

Tesla

$196.51

-3.73 (-1.86%)

, PCRFY

Panasonic

$10.09

0.12 (1.20%)

05:56
10/17/16
10/17
05:56
10/17/16
05:56

Tesla, Panasonic to collaborate on PV cell, module production in Buffalo, NY

Tesla (TSLA) said in a blog post that the company and Panasonic (PCRFY) have entered into a non-binding letter of intent under which they will begin collaborating on the manufacturing and production of photovoltaic cells and modules in Buffalo, New York. Under this agreement, which is contingent upon shareholders' approval of Tesla's acquisition of SolarCity (SCTY), Tesla will use the cells and modules in a solar energy system that will work seamlessly with Powerwall and Powerpack, Tesla's energy storage products. With the aid of installation, sales and financing capabilities from SolarCity, Tesla will bring an integrated sustainable energy solution to residential, commercial, and grid-scale customers. The parties intend for Panasonic to begin PV cell and module production at the Buffalo facility in 2017. Tesla intends to provide a long-term purchase commitment for those cells from Panasonic. The collaboration extends the established relationship between Tesla and Panasonic, which includes the production of electric vehicle and grid storage battery cells at Tesla's Gigafactory. Reference Link

TSLA

Tesla

$196.51

-3.73 (-1.86%)

PCRFY

Panasonic

$10.09

0.12 (1.20%)

SCTY

Bought by TSLA

$20.00

0.06 (0.30%)

  • 17

    Nov

TSLA Tesla
$196.51

-3.73 (-1.86%)

10/06/16
GSCO
10/06/16
DOWNGRADE
GSCO
Neutral
Tesla downgraded to Neutral from Buy at Goldman
Goldman analyst David Tamberrino downgraded Tesla to Neutral and lowered his price target to $185 from $240. Tamberrino sees incremental risk to Tesla's business related to management's willingness to deploy capital for M&A, and he believes that any delay in the company's new Model 3 launch will be detrimental to shares. The analyst said there is room for downward estimate revisions as volume ramps slower and spending grows. Tamberrino's 2016 earnigns estimate of (59c) is above the Street's (93c), but estimates for 2017 through 2019 are on average 48% below consensus.
10/06/16
GSCO
10/06/16
NO CHANGE
GSCO
Autos and Autos Parts sector downgraded to Cautious from Neutral at Goldman
Goldman analyst David Tamberrino downgraded the Autos and Auto Parts sector to Cautious from Neutral saying the US Auto cycle peaked in 2015 and is being held up by increasing OEM incentives. The analyst said OEM earnings will decline in 2017/2018 as negative pricing and lower production pressure North American results, but expects suppliers' earnings to hold up longer. The analyst sees upside to Delphi (DLPH) and Harman (HAR) given exposure to secular growth areas and upside to Goodyear Tire (GT) given secular HVA tire growth. Tamberrino downgraded Lear (LEA) to Sell citing elevated expectations and valuation, cut BorgWarner (BWA) to Neutral on valuation, downgraded Tesla (TSLA) to Neutral on execution risk and capital deployment, and upgraded AutoNation (AN) to Neutral given a more defensive business.
10/06/16
10/06/16
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. Tesla (TSLA) downgraded to Neutral from Buy at Goldman with analyst David Tamberrino saying he sees incremental risk to Tesla's business related to management's willingness to deploy capital for M&A, and he believes that any delay in the company's new Model 3 launch will be detrimental to shares. 2. JPMorgan (JPM) downgraded to Hold from Buy at Sandler O'Neill with analyst Jeffery Harte citing relative share outperformance. 3. Abercrombie & Fitch (ANF) downgraded to Sector Weight from Overweight at KeyBanc with analyst Jessica Schmidt saying the elevated promotions add to other headwinds, including the fact that the teen space is "overstored" and faces soft consumer demand and weak tourism. 4. American Express (AXP) downgraded to Reduce from Neutral at Nomura with analyst Bill Carcache saying the combination of weaker than expected revenues and higher than expected expenses will weigh on the shares. 5. Lowe's (LOW) downgraded to Neutral from Buy at Cleveland Research. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/13/16
OPCO
10/13/16
NO CHANGE
OPCO
Perform
Likelihood of Tesla, SolarCity deal closing has increased, says Oppenheimer
With Tesla (TSLA) setting the shareholder vote on November 17 for the SolarCity (SCTY) acquisition and detailing board activity at both companies in its latest filing, Oppenheimer analyst Colin Rusch believes the likelihood of the deal closing has increased. The analyst expects investors to begin to refocus on the evolution of product offerings along with capital plans and margin performance, and sees a significantly scaled-back SolarCity given staff cuts and voluntary departures. Oppenheimer has a Perform rating on Tesla's shares.
PCRFY Panasonic
$10.09

0.12 (1.20%)

SCTY Bought by TSLA
$20.00

0.06 (0.30%)

10/06/16
AXIO
10/06/16
UPGRADE
AXIO
Hold
SolarCity upgraded to Hold from Sell at Axiom
10/06/16
AXIO
10/06/16
NO CHANGE
AXIO
Axiom upgrades solar sector sector to Overweight from Underweight
As previously reported, Axiom analyst Gordon L. Johnson II upgraded several stocks in the solar sector, including raising his ratings on Yingli Green Energy (YGE) to Buy from Sell, Trina Solar (TSL) to Buy from Sell, JA Solar (JASO) to Buy from Sell and SolarCity (SCTY) to Hold from Sell. The firm has also upgraded its solar sector rating to Market Overweight from Market Underweight, as they believe China's proposed Jul. 1, 2017 tariff cut will usher in about 25GW of 1H17 Chinese "pull-in" demand and that a possible election win by Hillary Clinton would serve as sentiment tailwind pushing clean energy funds to "refocus" on solar stocks.
10/06/16
10/06/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. AutoNation (AN) upgraded to Neutral from Sell at Goldman with analyst David Tamberrino saying valuation has bottomed and could be flat to slightly up in the near-term as SAAR bounces around the low-to-mid 17M range. 2. Trina Solar (TSL), Yingli Green Energy (YGE), and JA Solar (JASO) were upgraded to Buy from Sell at Axiom while the firm upgraded SolarCity (SCTY) to Hold from Sell. 3. PNC Financial (PNC) upgraded to Market Perform from Underperform at Raymond James with analyst David Long saying negative earnings revisions over the past two years have likely hit an inflection point. 4. Big 5 Sporting (BGFV) upgraded to Buy from Hold at Deutsche Bank with analyst Mike Baker citing accelerating sales trends and higher earnings power from profitability improvements. 5. Booz Allen (BAH) upgraded to Outperform from Market Perform at Raymond James with analyst Brian Gesuale saying the recent selloff creates an attractive entry point. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

NUVA

NuVasive

$76.94

0.59 (0.77%)

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FB

Facebook

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1.02 (0.70%)

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TECK

Teck Resources

$21.26

-0.7 (-3.19%)

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Teck Resources raises dividend, announces dividend policy »

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MPW

Medical Properties Trust

$13.84

0.03 (0.22%)

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Syndicate
Medical Properties Trust 37.5M share Spot Secondary priced at $13.25 »

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CRAY

Cray

$19.15

-0.25 (-1.29%)

05:55
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ISRG

Intuitive Surgical

$827.24

5.06 (0.62%)

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Intuitive Surgical receives CE Mark for new da VinciX Surgical System »

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BTU

Peabody Energy

$26.10

-0.29 (-1.10%)

05:54
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Peabody Energy rating change  »

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  • 04

    May

AUDC

AudioCodes

$6.62

0.11 (1.69%)

05:51
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Earnings
AudioCodes reports Q1 EPS 7c, consensus 7c »

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CREE

Cree

$24.82

0.07 (0.28%)

05:51
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Cree rating change  »

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  • 09

    May

BIG

Big Lots

$49.57

-0.36 (-0.72%)

05:49
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APTI

Apptio

$12.80

0.09 (0.71%)

05:48
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Apptio rating change  »

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  • 04

    May

NORD

Nord Anglia

$32.82

5.2 (18.83%)

05:46
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Nord Anglia rating change  »

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  • 27

    Apr

AKS

AK Steel

$6.40

-0.72 (-10.11%)

05:44
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  • 25

    May

CMG

Chipotle

$471.76

2.97 (0.63%)

05:43
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Chipotle rating change  »

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SHOP

Shopify

$76.65

0.82 (1.08%)

05:43
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Shopify rating change  »

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  • 02

    May

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ALGT

Allegiant Travel

$163.85

-1.2 (-0.73%)

05:40
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Allegiant Travel rating change  »

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DYN

Dynegy

$6.19

-0.11 (-1.75%)

05:37
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  • 05

    May

RSPP

RSP Permian

$38.69

1.32 (3.53%)

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Initiation
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CPE

Callon Petroleum

$12.24

0.39 (3.29%)

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    May

LOGI

Logitech

$31.79

0.99 (3.21%)

05:32
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Earnings
Logitech backs FY18 outlook of high single-digit retail sales growth »

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  • 26

    Apr

FSNN

Fusion Telecommunications

$1.43

0.01 (0.70%)

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  • 30

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LOGI

Logitech

$31.79

0.99 (3.21%)

05:30
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Earnings
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  • 26

    Apr

SKYAY

Sky

$50.26

0.05 (0.10%)

05:29
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Sky rating change  »

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WFC

Wells Fargo

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0.91 (1.70%)

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  • 11

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KLRE

KLR Energy Acquisition

$10.55

0.1384 (1.33%)

04:55
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Conference/Events
KLR Energy Acquisition to host special shareholder meeting »

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