BofA/Merrill Strategy group named its Top 10 US ideas for Q1 2017. The selections are more heavily weighted towards companies that will benefit from increased fiscal stimulus, a pro-business agenda, and tax reform. They are Buy rated Aetna (AET), Dover (DOV), General Dynamics (GD), Hess Corp. (HES), MGM Resorts (MGM), Norfolk Southern (NSC), SVB Financial (SIVB), and Texas Instruments (TXN), and Underperform rated Consolidated Edison (ED) and TripAdvisor (TRIP).

TD Cowen analyst Joshua Buchalter raised the firm's price target on Texas Instruments to $175 from $160 and keeps a Hold rating on the shares. The firm said the print wasn't great but an important improvement and positive indicator on stability for the group. That said, numbers still need to move meaningfully higher to build medium-term valuation support or material buyback growth.

Reports Q1 revenue $10.7B, consensus $10.32B. "Our businesses delivered solid operating results in the quarter, growing revenue and backlog, while expanding margins, even as we awaited G700 certification," said Phebe N. Novakovic, chairman and chief executive officer. "In the Aerospace segment, the recent FAA certification of the Gulfstream G700 has enabled us to begin customer deliveries. This is a strong start to 2024 and we remain confident in our outlook."

BofA raised the firm's price target on Texas Instruments (TXN) to $190 from $175 and keeps a Neutral rating on the shares. TI's small Q1 beat and inline but sequentially rising Q2 sales guidance, "while modest, potentially marks a recovery inflection in industrial chip demand," with positive read-across for U.S. peers such as Analog Devices (ADI), Microchip (MCHP), NXP Semiconductors (NXPI) and On Semiconductor (ON), the analyst tells investors. However, despite an expected recovery, TI's sustained high capex intensity could keep reported calendar year 2024-26 pro-forma EPS below $6 per share, the analyst added.

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSAudioEye (AEYE) up... To see the rest of the story go to thefly.com. See Story Here

Ohio-based Ancora Holdings Group , which owns a large equity stake in Norfolk Southern Corporation updated shareholders on its campaign to elect seven unaffiliated and qualified candidates o the Company's 13-member Board of Directors at the Annual Meeting of Shareholders on May 9 Vote on the BLUE Proxy Card to elect the entire Shareholder Slate at the Annual Meeting. "Fellow Shareholder, Ancora is a meaningful investor in Norfolk Southern. We're asking you to elect seven new members to Norfolk Southern's 13-person Board at the May 9th Annual Meeting. Given the scope of this ask, we committed at the outset of our campaign to provide you with the respect and transparency an owner deserves when considering a change to a majority of a board of directors. As our campaign enters its final weeks, we will fulfill this commitment by asking you to focus on substantive matters and ignore the fearmongering, spamming and eleventh-hour stunts that often seep into the last days of contested elections. Rather than inundate you, we will continue to ask that you focus on one defining question when making your ultimate voting decision: Do you want Norfolk Southern to have leadership with the experience and judgment to properly implement Precision Scheduled Railroading so the Company can finally achieve the service, safety and long-term value realized by every other publicly traded Class I rail? If the answer is "yes," this Annual Meeting represents your best opportunity to usher in the type of change that drove lasting turnarounds at rails such as Canadian Pacific and CSX. Our position is supported by three point..."

Scotiabank lowered the firm's price target on Consolidated Edison to $85 from $91 and keeps an Underperform rating on the shares. Interest rates remain stubbornly high, which has weighed on the sector's valuation, the analyst tells investors. The firm views both Canadian and North American utility stocks as undervalued but sees upside for Canadian utility stocks following their steady underperformance compared to its U.S. peers. Fundamentally, Scotiabank remains bullish on the group's long-term earnings outlook given the tailwinds driving its strong rate base growth.

Deutsche Bank placed a "Catalyst Call: Buy" on shares of Union Pacific (UNP) as a short-term investment idea. With all the attention Norfolk Southern (NSC) is getting in recent months, it is easy to overlook developments at other railroads, the analyst tells investors in a research note. The firm says Union Pacific is now the worst performing pail stock year-to-date. However, operating metrics "clearly show that UNP's renewed efforts on operations are gaining traction," contends Deutsche Bank. It keeps a Buy rating on the shares with a $266 price target.

Susquehanna raised the firm's price target on Hess Corp. to $164 from $156 and keeps a Neutral rating on the shares. The firm updated its estimates for their E&P sector by lowereing natual gas assumptions and maintaining oil prices. For 2024, they expect companies will continue their maintenance capital programs, while focusing on driving improving well productivity. Susquehanna also expects M&A activity to continue as companies look to shore up inventory positions.