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HSY

Hershey

$111.83

-3.05 (-2.65%)

, NSRGY

Nestle

$85.70

1.77 (2.11%)

09:09
06/19/17
06/19
09:09
06/19/17
09:09

Hershey buy of Nestle assets could be type of 'poison pill,' says Credit Suisse

Credit Suisse analyst Robert Moskow analyzed several scenarios after Nestle's (NSRGY) recent announcement of a strategic review of its U.S. confectionery business. Buying Nestle candy would double Mondelez's (MDLZ) U.S. market share to 10%, but Moskow wonders if such a deal could compromise Mondelez' ability to eventually buy Hershey (HSY) at a later date. As for the latter, Hershey would generate "massive" synergies of 9% of sales and the deal could work as a type of "poison pill" to deter a bid from Mondelez or Kraft Heinz (KHC), said Moskow. However, he doesn't think Hershey would want to buy an asset that would dilute its topline growth rate at this point. He added that he sees "little to no chance" of Lindt, the number three in U.S. candy, being interested in Nestle's assets.

HSY

Hershey

$111.83

-3.05 (-2.65%)

NSRGY

Nestle

$85.70

1.77 (2.11%)

MDLZ

Mondelez

$45.19

-0.69 (-1.50%)

KHC

Kraft Heinz

$89.41

-2.24 (-2.44%)

HSY Hershey
$111.83

-3.05 (-2.65%)

02/16/17
02/16/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. SunPower (SPWR) upgraded to Outperform from Perform by Oppenheimer analyst Colin Rusch, who thinks challenging solar conditions are priced into the shares at current levels. While solar data points "continue to drift modestly lower," the pace of declines has slowed materially, Rusch tells investors, but admits that solar cycle bottoms are difficult to call. 2. ITT (ITT) upgraded to Outperform from Perform at Oppenheimer by analyst Jim Giannakouros, who said momentum in the shares can continue due to increased visibility into the company's earnings power build. 3. MDC Partners (MDCA) upgraded to Buy from Hold at Jefferies by analyst John Janedis, who sees the company's balance sheet as "significantly" de-risked following the $95M investment through the purchase of convertible preferred shares. The analyst, who expects shares to move higher as investors refocus on the business and management executes, raised his price target for the shares to $12 from $4. 4. Argus analyst David Coleman upgraded Hershey (HSY) to Buy from Hold with a $125 price target based on valuation and what he sees as the company's strong 2017 guidance. 5. NetApp (NTAP) upgraded to Buy from Hold at Lake Street. Eric Martinuzzi also raised his price target for the shares to $43 from $32 following the company's Q3 results. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/28/17
SOCG
02/28/17
UPGRADE
Target $110
SOCG
Hold
Hershey upgraded to Hold from Sell at Societe Generale
Societe General analyst Warren Ackerman ugpraded Hershey to Hold and raised its price target to $110 from $96 saying there is limited downside to growth from here and a more consumer-oriented portfolio should drive LFL growth to a a longer-term range of 3-4%. He also expects increased focus on operating efficiencies and target to drive margins up by 200bp by 2020.
02/28/17
02/28/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. U.S. Steel (X) upgraded to Outperform from Market Perform at Cowen with analyst Novid Rassouli saying he believes the company will be the primary beneficiary of the increasing steel intensity. Rassouli noted that the downturn in oil prices has masked the roughly 40% increase in monthly steel usage over the last six years but with the normalization of inventory and increase in self-help initiatives, the company has upside potential. Rassouli raised his price target to $60 from $36 on U.S. Steel shares. 2. Esperion (ESPR) upgraded to Buy from Neutral at Citi. 3. Hershey (HSY) upgraded to Hold from Sell at Societe Generale with analyst Warren Ackerman saying there is limited downside to growth from here and a more consumer-oriented portfolio should drive LFL growth to a a longer-term range of 3-4%. He also expects increased focus on operating efficiencies and target to drive margins up by 200bp by 2020. 4. CSX (CSX) upgraded to Buy from Hold at Deutsche Bank with analyst Amit Mehrotra citing his conversation with Mantle Ridge CEO Paul Hilal regarding the likely timing of potential operational initiatives, Mehrotra increased his "blue sky" target on CSX to $60 from $48. The entirety of potential profit improvements may be achieved inside of three years, versus a previous assumption of five years, Mehrotra tells investors in a research note. The analyst's "blue sky" scenario has Hunter Harrison and Paul Hilal running CSX. 5. Aircastle (AYR) upgraded to Neutral from Underperform at BofA/Merrill with the firm citing decreased exposure to freight aircraft. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/20/17
FBCO
04/20/17
NO CHANGE
Target $121
FBCO
Outperform
Hershey should be bought on weakness, says Credit Suisse
Credit Suisse analyst Robert Moskow says Hershey may be vulnerable to a short-term pullback in its stock because its valuation multiple historically depends quite heavily on top-line growth. However, with its earnings base poised for such a significant step-up in 2018 from the benefits of cocoa cost deflation and restructuring savings, the analyst would recommend buying the stock on weakness. He reiterates an Outperform rating and $121 price target on the shares.
NSRGY Nestle
$85.70

1.77 (2.11%)

06/07/17
BREN
06/07/17
DOWNGRADE
BREN
Hold
Nestle downgraded to Hold from Buy at Berenberg
Berenberg analyst James Targett downgraded Nestle to Hold with a price target of 85 francs.
02/02/17
SBSH
02/02/17
NO CHANGE
Target $83
SBSH
Buy
Citi calls $90/share price not 'all that great' for Mead Johnson
A deal price for Mead Johnson (MJN) of $90 per share "doesn't seem all that great" given that the shares were at $92 back in July of 2016 and hit $105 in February 2015, Citi analyst David Driscoll tells investors in a research note after Reckitt Benckiser (RBGLY) confirmed overnight that it is in "advanced negotiations" to buy the baby formula maker for $90 per share. The analyst believes Mead shares could be valued at $112 in a takeover. "It is quite easy to wonder if Reckitt isn't coming along at a most opportune time when Mead's EBITDA is depressed, but on a road to recovery," Driscoll writes. The analyst thinks interest from other bidders is likely with press reports as recently as two weeks ago suggesting Nestle (NSRGY) had interest in Mead while other reports suggested interest from Danone (DANOY). Driscoll even ponders if Kraft Heinz (KHC) may "come out of the shadows." In pre-market trading, Mead shares are up 24%, or $16.50, to $86
06/16/17
BERN
06/16/17
NO CHANGE
BERN
Nestle sale of U.S. confectionery business would be short-sighted,says Bernstein
After Nestle (NSRGY) said it would evaluate strategic options for its confectionery business, including a possible sale of the unit, Bernstein analyst Andrew Wood says he thinks that the review was undertaken with a view to boosting the company's shorter term financial results,. He says that a sale of the business would be "short-sighted," as it would undermine the company's status as a global confectionery leader, could hinder its ability to manage confectionery assets and will eliminate its ability to benefit from "premiumisation" in the U.s. confectionery market. The analyst keeps a Market Perform rating on Nestle.
02/02/17
WBLR
02/02/17
NO CHANGE
WBLR
Wyeth Nutrition deal implies $100/share price for Mead, says William Blair
William Blair analyst Jon Andersen says Nestle's (NSRGY) acquisition of Wyeth Nutrition a few years ago, done at 20 times EBITDA, implies a Mead Johnson (MJN) takeover price closer to $100 per share. Reckitt Benckiser (RBGLY) appears to have the financial capacity to get a deal done, Andersen tells investors in a research note after both the company and Mead confirmed the deal talks. The analyst has an Outperform rating on Mead.
MDLZ Mondelez
$45.19

-0.69 (-1.50%)

05/03/17
05/03/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McDonald's (MCD) upgraded to Buy from Neutral at Goldman Sachs with analyst Karen Holthouse citing positive consumer reviews of the "Experience of the Future" roll-out, and believes digital/delivery could be incremental sales drivers for a multi-year comp cycle. 2. FireEye (FEYE) upgraded to Outperform from Market Perform at William Blair with analyst Jonathan Ho citing new product launches and refresh opportunities post the company's first quarter results. 3. Mondelez (MDLZ) upgraded to Buy from Hold at Deutsche Bank with analyst Rob Dickerson citing the company's first quarter earnings report and saying the stock should not be trading in-line with the U.S.-based food group average, Dickerson tells investors in a research note. 4. First Solar (FSLR) upgraded to Hold from Sell at Axiom. 5. Oasis Petroleum (OAS) upgraded to Buy from Hold at SunTrust with analyst Neal Dingamann saying rig activity could double to four rigs by mid-year, well results are hitting record levels, differentials/marketing results could soon be the best in company history, and the balance sheet is solid, among other reasons. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/03/17
DBAB
05/03/17
UPGRADE
DBAB
Buy
Mondelez upgraded to Buy from Hold at Deutsche Bank
05/24/17
PIPR
05/24/17
INITIATION
PIPR
Neutral
Mondelez initiated with a Neutral at Piper Jaffray
Piper Jaffray analyst Michael Lavery initiated Mondelez with a Neutral rating and $48 price target, saying he sees a potential 5% upside for Mondelez shares.
05/03/17
DBAB
05/03/17
UPGRADE
Target $51
DBAB
Buy
Mondelez upgraded to Buy on less 2017 risk at Deutsche Bank
Deutsche Bank analyst Rob Dickerson upgraded Mondelez to Buy from Hold and raised his price target for the shares to $51 from $49 following the company's Q1 earnings report. The stock should not be trading in-line with the U.S.-based food group average, Dickerson tells investors in a research note. After organic sales accelerated in the quarter, the risk to 2017 has been decreased, the analyst argues. He now believes 10% base business earnings growth in 2018 and 2019 is highly likely.
KHC Kraft Heinz
$89.41

-2.24 (-2.44%)

06/13/17
MAXM
06/13/17
NO CHANGE
Target $80
MAXM
Buy
Bob Evans price target raised to $80 from $74 at Maxim
Maxim analyst Stephen Anderson raised his EPS estimates for Bob Evans (BOBE) to reflect easier commodity costs and contends that rising multiples among the company's direct peers - including Conagra (CAG), Hormel (HRL), Kraft Heinz (KHC), Pinnacle (PF), and Post (POST) - hints at the potential for accelerated industry consolidation. As previously reported, Anderson views Bob Evans as a target for a possible takeover and he keeps a Buy rating on the shares.
06/07/17
06/07/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Kraft Heinz (KHC) initiated with a Buy at Berenberg. 2. NICE Systems (NICE) initiated with a Neutral at Citi. 3. Exxon Mobil (XOM) initiated with a Long-Term Buy at Hilliard Lyons. 4. ASV Holdings (ASV) was initiated with a Buy at Roth Capital and Seaport Global. 5. Check Point (CHKP), Imperva (IMPV), and Proofpoint (PFPT) were initiated with a Positive at Susquehanna. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/07/17
BREN
06/07/17
INITIATION
Target $102
BREN
Buy
Kraft Heinz initiated with a Buy at Berenberg
Berenberg analyst James Targett started Kraft Heinz with a Buy rating and $102 price target.
05/24/17
PIPR
05/24/17
INITIATION
PIPR
Neutral
Kraft Heinz initiated with a Neutral at Piper Jaffray
Piper Jaffray analyst Michael Lavery initiated Kraft Heinz with a Neutral rating and $94 price target, expecting Kraft Heinz will pursue further consolidation, with Kellogg (K) and PepsiCo (PEP) looking like the best fit of the company's stated M&A criteria.

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