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Fly News Breaks for June 28, 2016
DISH, MTOR, NAV, WBC, MBLY, SCTY, TSLA, DD, DOW
Jun 28, 2016 | 10:13 EDT
Catch up on the today's top five analyst downgrades with this list compiled by The Fly: 1. Dow Chemical (DOW) downgraded to Neutral from Overweight at JPMorgan by analyst Jeffrey Zekauskas, citing a lack of near term upside potential amid rising risks of contraction in the major economic regions. Under weakening economic conditions, the market is likely to ask for a higher risk premium or margin of safety in investing in Dow Chemical, Zekauskas said. He cut his price target for the shares to $50 from $57. The analyst also downgraded DuPont (DD) to Neutral from Overweight this morning and lowered his price target for shares to $64 from $73. 2. Tesla (TSLA) downgraded to Hold from Buy at Argus by analyst Bill Selesky, citing the company's "ill-timed" bid to acquire SolarCity (SCTY). The acquisition offer comes at an "inappropriate time" for Tesla, given the company is still struggling to become profitable and it likely lengthens the time it would take for Tesla to do so, Selesky tells investors. The proposed acquisition adds a new level of meaningful risk to Tesla operations as well as potential dilution, the analyst added. 3. Mobileye (MBLY) downgraded to Neutral from Buy at Goldman by analyst Alexander Duval, citing the greater than 60% rise in the shares since February. The analyst remains positive on Mobileye's long-term prospects. He lowered his price target for the shares to $40 from $45. The developer of advanced driver assistance systems closed yesterday down $1.91 to $39.79. 4. WABCO (WBC) downgraded to Neutral from Overweight at Piper Jaffray by analyst Alexander Potter, saying the company has the highest European exposure in his coverage universe at 55% of 2015 revenue. With all the uncertainty in Europe following the Brexit vote, it's hard to trust out-year estimates, Potter tells investors in a research note. He cut his price target for WABCO shares to $94 from $124. Potter this morning also downgraded Navistar (NAV) to Neutral from Overweight and Meritor (MTOR) to Underweight from Neutral. WABCO was also downgraded to Neutral from Buy at Goldman this morning. Analyst Steve Song, who lowered his price target to $95 from $105, cut WABCO 2017-18 earnings estimates given WABCO's European truck market exposure, which is 60% of sales. 5. DISH (DISH) downgraded to Sell from Neutral at MoffettNathanson. The firm believes that DISH's ability to monetize its spectrum is limited, since none of the major telecom companies has enough funds to buy all or most of the spectrum. The firm thinks that many on the Street may be overestimating the value of the company's spectrum. It expects "downward pressure" on the stock to increase as investors begin to question whether DISH can sell its spectrum. 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 DOW;DD;TSLA;SCTY;MBLY;WBC;NAV;MTOR;DISH From the Last 2 Days
TSLA
Mar 27, 2024 | 12:00 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here
TSLA
Mar 27, 2024 | 08:01 EDT
Notable profits for the buyer who lifted the $1.90 offer for 1,300 Tesla (TSLA) 3/28 weekly 180 puts yesterday at 09:54ET when underlying shares were trading at $182.66. Shares closed at $177.67, and the puts at $4.03 for a mark-to-market profit of 112%, or $276K, on the $247K outlay.
TSLA
Mar 27, 2024 | 07:51 EDT
Morgan Stanley noted that Bloomberg reported earlier this week that Contemporary Amperex Technology Co. Ltd., or CATL, is working with Tesla on faster charging batteries, which follows news that CATL is supplying machinery to Tesla's Giga Nevada factory. China's CATL is effectively barred from selling into the U.S. directly, but is able to license battery tech to partners and charge a royalty fee, noted the analyst, who notes that the U.S. is an under-penetrated EV market in need of high quality, cheap battery tech and that China is a highly penetrated EV market with an oversupply of batteries. The firm, which believes a Tesla-CATL partnership "could be a game changer" for the U.S. electric vehicle market, has an Overweight rating and $320 price target on Tesla shares.
TSLA
Mar 27, 2024 | 05:56 EDT
Tesla CEO Elon Musk told staff in an internal memo to give buyers a "short test ride" to demonstrate the company's Full Self-Driving technology, now a "hard requirement" in North America, Bloomberg's Edward Ludlow reports. Workers will also have to perform checks on any vehicles returned from service. "I know this will slow down the delivery process, but it is nonetheless a hard requirement," Musk said in the memo, adding that "This is very important." Reference Link
TSLA
Mar 27, 2024 | 05:39 EDT
Citi analyst Itay Michaeli lowered the firm's price target on Tesla to $196 from $224 and keeps a Neutral rating on the shares. Ahead of Tesla's Q1 delivery release, the analyst lowered estimates to reflect recent data points. The firm's Q1 delivery estimate goes to 429,9000 from 473,300. The Q1 setup for Tesla "looks tough on aggressive consensus estimates," the analyst tells investors in a research note. In recent weeks, consensus estimates have come down, but March data points have also disappointed, says Citi. It believes Sheet estimates are still looking too high, not only for 2024 but also 2025.