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Fly News Breaks for June 1, 2018
RLJ, TM, HIW, TTOO, AAL
Jun 1, 2018 | 10:39 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. American Airlines (AAL) upgraded to Outperform from In-Line at Imperial Capital with analyst Michael Derchin saying American is likely to reduce capacity starting in the post-labor day period, which should be well received by investors. 2. T2 Biosystems (TTOO) upgraded to Outperform from Market Perform at Leerink with analyst Puneet Souda saying this week's T2bacteria FDA clearance expands the company's market opportunity "dramatically" from $1.4B to over $3B. 3. Highwoods Properties (HIW) upgraded to Buy from Hold at Stifel with analyst John Guinee saying he believes the macro environment is changing to the positive for REITs. 4. Toyota (TM) upgraded to Outperform from Neutral at Daiwa. 5. RLJ Lodging Trust (RLJ) upgraded to Overweight from Equal Weight at Barclays with analyst Felicia Hendrix saying she views the current valuation as attractive and sees a strong RevPAR outlook for 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For AAL;TTOO;HIW;TM;RLJ From the Last 2 Days
TTOO
Mar 28, 2024 | 09:08 EDT
T2 Biosystems announced that its multi-year capital equipment supplier agreement with Vizient has been extended through March 31, 2025. The products covered under the contract with Vizient include the T2Dx Instrument, the T2Bacteria Panel and the T2Candida Panel, which detect sepsis-causing bacterial and fungal pathogens directly from whole blood. "We are pleased to extend our multi-year agreement with Vizient, the nation's largest group purchasing organization. This reiterates the continued value that our products offer to patients suspected of sepsis," stated John Sperzel, Chairman and CEO of T2 Biosystems. "We believe there is a strong need for hospitals to have more effective rapid diagnostics that enable faster targeted therapy and this contract with Vizient improves hospitals' access to our life-saving technology."
HIW
Mar 28, 2024 | 07:32 EDT
Morgan Stanley raised the firm's price target on Highwoods Properties to $21 from $18 and keeps an Underweight rating on the shares. The firm notes that over the next two years, there are 26M square foot of lease expirations that may pose further downside risk to office REIT occupancy and has dissected expirations and existing vacancies in about 50 real estate investment trust properties that represent about 50% of total expirations to estimate which REITs are best positioned to protect occupancy and which may be at greater risk of losing occupancy. Based on its analysis, the firm identifies SL Green (SLG) and Vornado (VNO) as two REITs that "stand out positively" given they have the lowest lease expirations, best submarket exposure and have disclosed a significant amount of backfilling, while it continues to monitor activity at Highwoods, Hudson Pacific (HPP) and Office Properties (OPI), the analyst tells investors.
TM
Mar 26, 2024 | 15:52 EDT
After this morning's collapse of the Francis Scott Key Bridge in Maryland closed the Port of Baltimore, JPMorgan economist Michael Feroli noted that the port ranks 17th among U.S. ports in tonnage handled, but ranks first for light vehicle imports and is also an important coal export terminal. However, the firm's initial assessment is that this development will "likely only have minimal implications for vehicle inflation" given that many more vehicles are imported over land from Canada and Mexico and that vessels are already being diverted to other East Coast ports. Publicly traded automakers include Ford (F), General Motors (GM), Honda (HMC), Mercedes-Benz Group (DDAIF), Nissan (NSANY), Stellantis (STLA), Tesla (TSLA), Toyota (TM) and Volkswagen (VWAGY).