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Fly News Breaks for February 13, 2018
BA, DGX, CELG, TOT, JPM
Feb 13, 2018 | 10:19 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. JPMorgan (JPM) upgraded to Outperform from Market Perform at Keefe Bruyette with analyst Brian Kleinhanzl saying he views the recent pullback in the shares as a buying opportunity. 2. Total (TOT) upgraded to Overweight from Equal Weight at Morgan Stanley and to Strong Buy from Outperform at Raymond James. 3. Celgene (CELG) upgraded to Overweight from Equal Weight at Barclays with analyst Geoff Meacham saying the current valuation largely reflects the risk. 4. Quest Diagnostics (DGX) upgraded to Outperform from Neutral at Credit Suisse with analyst A.J. Rice saying he believes the company has "substantial runway on several fronts," including its Optum partnership related to revenue cycle management, which he believes could reduce bad debts and claims denials. 5. Boeing (BA) upgraded to Buy from Hold at Edward Jones. 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 JPM;TOT;CELG;DGX;BA From the Last 2 Days
BA
Mar 28, 2024 | 06:35 EDT
Citi lowered the firm's price target on Boeing to $252 from $263 and keeps a Buy rating on the shares. The analyst says the fundamental outlook for commercial aerospace and Boeing has not changed as demand for new aircraft remains robust and there are only two major competitors that can fulfill it. While Boeing has stumbled on execution, this is not a permanent state, the analyst tells investors in a research note. Once fixed, Boeing's balance sheet repair will be the focus, as it should be, says Citi. The firm, however, sees no quick fix, and believes patience is required.
JPM
Mar 28, 2024 | 05:00 EDT
HSBC analyst Saul Martinez raised the firm's price target on JPMorgan to $205 from $188 and keeps a Hold rating on the shares. After underperforming year-to-date, HSBC is incrementally positive on super regional banks. Citi (C) remains the firm's preferred choice among banks, however. HSBC continues to expect the banks to show improved net interest income in 2H24, generate operating leverage in 2025, and increase share buybacks in 2025 and beyond.
BA
Mar 26, 2024 | 13:45 EDT
Moody's placed the Baa2 senior unsecured rating and Prime-2 short-term rating of Boeing on review for downgrade. The rating outlook was previously stable. "Placing the ratings on review for downgrade follows Moody's belief that Boeing will be unable to deliver 737 narrow-body aircraft at the volumes required for it to materially expand its free cash flow and retire debt in a reasonable timeframe," the ratings agency said in a statement. The aftereffects of the door plug ejection on Alaska Airlines flight 1282 on January 6, and investments in components and parts inventory in an attempt to reduce travelled work in the production of 737s will result in about $4.5B of negative free cash flow in Q1, it points out. Moody's says Boeing's cash will fall well below $10B come March 31.
BA
Mar 26, 2024 | 13:17 EDT
Japan looks to collaborate with the private sector to develop a next-generation passenger aircraft, hoping to avoid the pitfalls that doomed Mitsubishi Heavy Industries' (MHVYF) SpaceJet by encouraging the participation of multiple companies and helping create technology standards, Nikkei's Riho Nagao reports. The project is expected to explore propulsion systems beyond jet engines that are mainstream now, including the development of hydrogen-combustion engines, the report says. Other publicly traded companies in the space include Boeing (BA) and Airbus (EADSY). Reference Link