Information Provided By:
Fly News Breaks for February 4, 2019
OKTA, MGNX, SAP, RIO, BHP, AVEO
Feb 4, 2019 | 10:14 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Aveo Pharmaceuticals (AVEO) downgraded to Neutral from Buy at B. Riley FBR with analyst Harshita Polishetty saying she sees a financing overhang after the FDA recommended against the filing of the company's tivozanib new drug application. 2. BHP Billiton (BHP) downgraded to Underweight from Neutral at JPMorgan while Rio Tinto (RIO) was downgraded to Neutral from Overweight at. 3. SAP (SAP) downgraded to Neutral from Buy at BofA/Merrill. 4. MacroGenics (MGNX) downgraded to Sell from Neutral at Citi with analyst Yigal Nochomovitz saying his re-examination of the prior Phase 1 data underpinning the ongoing Phase 3 SOPHIA trial has led him to revise his base case expectation to a failure for the trial. 5. Okta (OKTA) downgraded to Sector Weight from Overweight at KeyBanc with analyst Rob Owens saying that while the Street clearly anticipates meaningful upside to expectations, he believes many of the upside scenarios render shares fairly valued at current levels. 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 AVEO;BHP;RIO;SAP;MGNX;OKTA From the Last 2 Days
BHP
Apr 24, 2024 | 17:24 EDT
BHP Group (BHP) is weighing a possible acquisition of Anglo American (NGLOY), Bloomberg's Crystal Tse, Dinesh Nair, and Thomas Biesheuvel report, citing people with knowledge of the matter. The company has recently been evaluating the possibility of an offer for Anglo American, the authors note. Reference Link
SAP
Apr 24, 2024 | 12:12 EDT
Berenberg raised the firm's price target on SAP to EUR 195 from EUR 190 and keeps a Buy rating on the shares.
SAP
Apr 24, 2024 | 08:10 EDT
HSBC raised the firm's price target on SAP to EUR 200 from EUR 180 and keeps a Buy rating on the shares. The company's Q1 report was "solid even if not spectacular" as it sees continued strong momentum, the analyst tells investors in a research note. The firm says SAP's long-term revenue growth prospects are supported by a shift to cloud combined with monetization of its artificial intelligence opportunity.
SAP
Apr 24, 2024 | 05:33 EDT
Barclays lowered the firm's price target on SAP to $210 from $212 and keeps an Overweight rating on the shares post the Q1 report. SAP is well positioned for artificial intelligence, but the near-term financial impact is likely to be limited, while any restructuring creep should drive further EBIT upside, files to sell common stock, no amount given
RIO
Apr 23, 2024 | 07:39 EDT
Midland Exploration announced the execution of an amended option agreement on April 22, 2024 with Rio Tinto Exploration Canada and the addition of the Wookie project to the option agreement signed with RTEC in June 2023. The Wookie project is located in Eeyou Istchee James Bay area. The amended option agreement now consists of eleven projects totalling 2,208 claims covering a surface of about 1,139 square kilometres. These projects include Galinee, Corvette, Mythril East, Chisaayuu, Moria, Shire, Komo, Warp, Sulu, Picard and Wookie. Highlights: Addition of the Wookie project to the option agreement with RTEC; Additional $1,5M of expenditures for the initial 50% and $4,0M for 70% interest, with additional $100,000 cash payment upon execution and another $250,000 over a 4-year period. Under the amended Option Agreement, RTEC may acquire an initial 50% interest in the Properties over a period of five years, subject to the following conditions: Additional cash payment of $100,000 within 45 days of the amendment execution and additional cash payment of $250,000 over a 4-year period. Additional exploration expenditures of $1,500,000 for a new total of $16,000,000, including a firm commitment to spend not less than $2,000,000 in the first 18 months following the lifting of the wildfire restrictions in Quebec last August 2023. After acquiring an initial 50% interest, RTEC will have the option to increase its interest in the Properties to 70% over a period of five years following the exercise of the First Option, subject to the following conditions: Additional exploration expenditures of $4,000,000 for a new total of $54,000,000. The Properties are wholly-owned by Midland and all located within he Eeyou Istchee James Bay region, Quebec. RTEC will act as project operator under the Option Agreement during the First Option period and the Second Option period. The signing of the amended option agreement follows a new evaluation of the lithium potential of the Wookie project and its favorable geological context. The Wookie project is located within the La Grande geological subprovince of the lithium-rich Eeyou Istchee James Bay region, which hosts most of the lithium deposits, including deposits such as Corvette, James Bay Lithium, Whabouchi, and Adina. among others. The Wookie project consists of 188 claims and is located about 40 kilometres north-northwest of the James Bay Lithium deposit. The Wookie project is underlain by a lower Amphibolite facies metamorphosed bedrock, recognized to be the most favorable metamorphic facies for lithium pegmatites worldwide. Furthermore, most of the lithium deposits in the Eeyou Istchee James Bay area are found in pegmatites emplaced within mafic volcanic or intrusive rocks units. The Wookie project covers more than twenty square kilometers of mafic volcanic rocks that have not been extensively explored for lithium. Finally, several historical Quebec government rock samples of pegmatites collected close to the project have returned anomalous tantalum, cesium and rubidium values. While these samples were not analyzed for lithium, this element suite is strongly suggestive of favorable LCT pegmatites. The favorable environment is strengthened by the discovery of a spodumene pegmatite that returned up to 3.9% Li2O by Quebec Precious Metals Corporation near the Wookie project