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WSO

Watsco

$146.16

-1.35 (-0.92%)

, UTX

United Technologies

$108.84

0.39 (0.36%)

07:42
11/30/16
11/30
07:42
11/30/16
07:42

Watsco to acquire additional ownership in joint venture with Carrier

Watsco (WSO) announced that it has acquired an additional 10% ownership interest in Carrier Enterprise Northeast, a joint venture with Carrier Corporation, a part of UTC Climate, Controls & Security, a unit of United Technologies (UTX). The transaction raises Watsco's ownership stake to 70%. Consideration was approximately $43M and was paid in cash. The joint venture has sales of approximately $500M in two countries, including 43 locations in the northeastern U.S. and 12 locations in Mexico, offering a variety of products manufactured by Carrier along with approximately 25,000 other SKUs.

WSO

Watsco

$146.16

-1.35 (-0.92%)

UTX

United Technologies

$108.84

0.39 (0.36%)

WSO Watsco
$146.16

-1.35 (-0.92%)

07/25/16
GHSC
07/25/16
DOWNGRADE
Target $150
GHSC
Neutral
Watsco downgraded to Neutral from Accumulate at Seaport Global
Seaport Global analyst Walt Liptak downgraded Watsco to Neutral and lowered estimates following the disappointing Q2 report and a weakened 2016 outlook. The analyst maintained his $150 price target but does not expects Watsco to make up the Q2 sales deceleration in 2H 2016.
09/23/16
WBLR
09/23/16
NO CHANGE
WBLR
Outperform
Beacon Roofing selloff brings buying opportunity, says William Blair
William Blair analyst Ryan Merkel views the 9% pullback in shares of Beacon Roofing Supply (BECN) over the past two weeks as overdone. After speaking to management, the analyst attributes the stock weakness to fears of new construction peaking. Only about 10% of Beacon's sales are tied to new construction, however, with 90% tied to replacement, Merkel tells investors in a research note. He notes the company's close peers, Watsco (WSO) and Pool Corp. (POOL), have sold off far less. Merkel adds that his firm's roofing surveys indicate that fundamentals remain healthy and there has been no noticeable slowdown. He sees a good buying opportunity at current levels and keeps an Outperform rating on Beacon.
10/14/16
LBOW
10/14/16
UPGRADE
LBOW
Buy
Watsco upgraded to Buy from Neutral at Longbow
10/14/16
10/14/16
UPGRADE
Target $170

Buy
Watsco upgraded to Buy followng checks at Longbow
As previously reported, Longbow upgraded Watsco to Buy from Neutral and established a $170 price target. Analyst Chris Dankert's checks indicate Watsco has exceeded already high Q3 expectations despite difficult comps and raised his forecast to +14% year-over-year growth versus +10% prior. Given the recent pullback in shares combined with the sales acceleration, Dankert recommends buying Watsco for what should be a near-term beat to expectations and also a long runway for sales growth and EBIT margin expansion.
UTX United Technologies
$108.84

0.39 (0.36%)

05/03/16
05/03/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. ACADIA (ACAD) downgraded to Market Perform at Leerink by analyst Paul Matteis, who said his 2016-2018 revenue estimates are below consensus. The analyst said that consensus estimates for the pimavanserin launch "may overlook a collection of minor headwinds." He admits that ACADIA could be attractive to multiple potential buyers, including Biogen (BIIB) and Amgen (AMGN).2. Sarepta (SRPT) downgraded to Underperform at Leerink with analyst Joseph Schwartz believing the FDA's interpretation of empirical data for eteplirsen will be consistent with the recent negative panel, which was critical despite powerful human testimonies. 3. Community Health (CYH) downgraded to Underperform at BofA/Merrill by analyst Kevin Fischbeck, who said Q1 was disappointing. The analyst does not see volumes accelerating and is skeptical the company can turn around HMA assets in the near-term enough to hit margin targets. 4. United Technologies (UTX) downgraded to Sector Perform at RBC Capital because the firm says that Honeywell's (HON) actions indicate that it's no longer interested in buying United Technologies. The firm also said that Honeywell hasn't looked to increase the amount of cash it returns to shareholders. 5. On Deck Capital (ONDK) downgraded to Underperform at Sterne Agee CRT, to Hold at Canaccord and Needham, and to Neutral at BTIG following its weaker than expected Q1 results and guidance cut. Canaccord analyst Michael Graham said tepid originations growth raises concerns regarding borrowing demand and sees increased uncertainties cropping up. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/06/16
BARD
10/06/16
INITIATION
Target $110
BARD
Neutral
United Technologies initiated with a Neutral at Baird
Baird analyst Peter.Arment initiated United Technologies with a Neutral and a $110 price target.
10/10/16
SBSH
10/10/16
DOWNGRADE
Target $109
SBSH
Neutral
United Technologies downgraded to Neutral from Buy at Citi
Citi analyst Jason Gursky downgraded United Technologies to Neutral saying he sees three issues limiting share upside over the next twelve-plus months. Gursky believes 2017 consensus estimates are too high and that management is likely to reduce its 2020 targets at March's annual investor day. Further, he highlights manufacturing issues on the new GTF engine. The analyst cut his price target for the shares to $109 from $115.
10/10/16
10/10/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Honeywell (HON) downgraded to Buy from Conviction Buy at Goldman with analyst Christopher Glynn lowering his Q3 Earnings Per Share expectations for Honeywell after the company cut its earnings and revenue outlook and trimmed his price target to $122 from $128. 2. United Technologies (UTX) downgraded to Neutral from Buy at Citi with analyst Jason Gursky saying he sees three issues limiting share upside over the next twelve-plus months. 3. PNC Financial (PNC) was downgraded to Neutral from Buy at Nomura while the firm downgraded Fifth Third (FITB) to Reduce from Neutral. 4. Myriad Genetics (MYGN) downgraded to Sell from Neutral at Ladenburg with analyst Kevin DeGeeter citing a "significant and unexpected deterioration" in outlook for the company's companion diagnostic franchise. 5. HSN, Inc. (HSNI) downgraded to Hold from Buy at Craig-Hallum with analyst Alex Fuhrman saying his channel checks indicate continued weakness in the third quarter, with particular weakness in jewelry and consumer electronics. 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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SHLD

Sears

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Roku

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MS

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IBM

IBM

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MARA

Marathon Patent Group

$3.47

-0.12 (-3.34%)

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Morgan Stanley

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PTC

PTC

$66.70

1.41 (2.16%)

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OAKS

Five Oaks

$3.04

-0.04 (-1.30%)

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HOMB

Home Bancshares

$24.69

0.07 (0.28%)

08:40
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Earnings
Home Bancshares reports Q4 EPS 13c, consensus 34c »

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    Jan

GS

Goldman Sachs

$253.43

-4.8 (-1.86%)

08:40
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GOOG

Alphabet

$1,131.98

10.22 (0.91%)

, GOOGL

Alphabet Class A

$1,139.10

8.4 (0.74%)

08:40
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08:40
Periodicals
Google, Temasek invest in Indonesia ride-hailing service Go-Jek, Reuters says »

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GOOG

Alphabet

$1,131.98

10.22 (0.91%)

GOOGL

Alphabet Class A

$1,139.10

8.4 (0.74%)

KKR

KKR

$22.85

0.06 (0.26%)

SSNLF

Samsung

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AMZN

Amazon.com

$1,295.00

-9.86 (-0.76%)

, HD

Home Depot

$199.82

3.51 (1.79%)

08:39
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08:39
Recommendations
Amazon.com, Home Depot, Williams-Sonoma analyst commentary  »

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AMZN

Amazon.com

$1,295.00

-9.86 (-0.76%)

HD

Home Depot

$199.82

3.51 (1.79%)

WSM

Williams-Sonoma

$54.39

0.54 (1.00%)

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AZRX

AzurRx BioPharma

$3.50

0.02 (0.57%)

08:38
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AzurRx receives required approvals to add French site to MS1819-SD study »

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CLBS

Caladrius

$4.19

0.03 (0.72%)

08:36
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Caladrius completes enrollment of Phase 2 T-Rex Study »

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UBS

UBS

$19.48

0.06 (0.31%)

08:35
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Technical Analysis
Technical Take: UBS hits new 52-week high, analyst action »

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MGA

Magna

$59.67

1.63 (2.81%)

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NBRV

Nabriva Therapeutics

$6.39

0.39 (6.50%)

08:35
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Initiation
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FAT

Fat Brands

$9.04

-0.53 (-5.54%)

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OAKS

Five Oaks

$3.04

-0.04 (-1.30%)

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GILD

Gilead

$81.74

1.49 (1.86%)

, PFE

Pfizer

$37.18

0.58 (1.58%)

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GILD

Gilead

$81.74

1.49 (1.86%)

PFE

Pfizer

$37.18

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General news
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ESIO

Electro Scientific

$22.01

1.91 (9.50%)

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