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Fly News Breaks for April 24, 2017
WING, TRV, SONC, KEY, SWK
Apr 24, 2017 | 10:38 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Stanley Black & Decker (SWK) upgraded to Overweight from Neutral at JPMorgan with analyst Michael Rehaut saying the company's "solid" organic growth provides room for additional share upside. The analyst raised his price target for the shares to $152 from $140 following Stanley's first quarter results. 2. KeyCorp (KEY) upgraded to Overweight from Neutral at Piper Jaffray with analyst Kevin Barker saying momentum is building following the company's "solid beat" this quarter and "very optimistic" guidance regarding loan growth and credit performance. The analyst raised his price target for the shares to $21 from $19. 3. Sonic (SONC) upgraded to Overweight from Equal Weight at Stephens with analyst Will Slabaugh saying he believes it now presents an attractive buying opportunity on what he sees as a same-store sales inflection point in the third quarter, with comps likely turning positive intra-quarter, an underlying valuation that is over 20% below peers with a similar franchise percentage, and lowered expectations from recent sales softness providing for a favorable risk/ reward. The analyst also raised his price target on the shares to $32 from $26. 4. Travelers (TRV) upgraded to Buy from Hold at Argus with analyst Jacob Kilstein telling investors he expects underwriting margins to expand further following three straight quarters of expansion as the company raises prices on auto insurance and expands its data analytics and digital initiatives. Kilstein also expects Travelers to generate higher return on capital, noting its recent 7% dividend hike and additional $5B buyback, and views valuation as attractive following the pullback. 5. Wingstop (WING) upgraded to Overweight from Equal Weight at Stephens with analyst Will Slabaugh upgraded Wingstop (WING) to Overweight from Equal Weight, with a $32 price target, as he believes it presents an attractive, multi-year opportunity for likely reaccelerating same-store sales growth that should widen its gap to the industry while benefiting from national advertising, and a likely one time dividend in the next 12-18 months that could yield a double-digit return. 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 SWK;KEY;SONC;TRV;WING From the Last 2 Days
KEY
Mar 18, 2024 | 18:22 EDT
The company states: "KeyCorp (KEY) announced a forward flow origination partnership with Blackstone (BX) Credit & Insurance focused on Key's Specialty Finance Lending group. SFL is a leading asset-based lender serving clients nationally across middle market, growth capital, transportation, equipment, and other verticals. In connection with the partnership, Blackstone and Key closed a transaction on a seed portfolio of middle market fund finance facilities. Key will continue to originate, hold, and provide asset management services for new commitments across all sectors."