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Fly News Breaks for March 1, 2017
MRVL, GMS, WMB, OC, MU
Mar 1, 2017 | 10:31 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Micron (MU) upgraded to Buy from Neutral at Goldman with analyst Mark Delaney saying the potential for near-term earnings upside from better margins presents a "tactical opportunity." 2. Owens Corning (OC) upgraded to Buy from Neutral at BofA/Merrill with analyst John Lovallo citing increased confidence that industry is operating line capacity utilization could increase to the mid-90% range in the second half 2017/2018 from roughly 90% today. Following management meetings yesterday, Lovallo raised estimates to reflect increased confidence in a positive price inflection in the insulation business and said Composites pricing could rise more than expected in 2017. 3. Williams (WMB) upgraded to Conviction Buy from Buy at Goldman with analyst Theodore Durbin citing the 38% total return potential to his unchanged price target of $38. The market is not appreciating the company's "visible, low-risk" organic growth and "strong" free cash flow generation, Durbin tells investors in a research note. 4. GMS Inc. (GMS) upgraded to Outperform from Neutral at Baird with analyst David Manthey citing continued construction tailwinds, industry share gains, solid operating leverage potential and strong M&A activity. Manthey raised his price target to $36 from $32. 5. Marvell (MRVL) upgraded to Neutral from Sell at Goldman with analyst Mark Delaney citing improved hard disk drive demand trends. The analyst believes consensus estimates can move higher when Marvell reports results on March 2 and upped his price target for the shares to $16 from $12. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
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