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ENB

Enbridge

$41.77

-0.03 (-0.07%)

, TOSBF

Toshiba, also use TOSYY

$2.34

-0.064 (-2.67%)

11:43
08/03/17
08/03
11:43
08/03/17
11:43

Toshiba announces formation of U.S. LNG-focused company

Toshiba America publicly announced the formation of Toshiba America LNG Corporation, a new operating company that will focus on the liquid natural gas market. Toshiba America LNG is responsible for coordinating and assembling the necessary infrastructure chain to produce U.S. LNG which can then be marketed by the broader Toshiba group to key focus geographies such as Latin America, the Caribbean and Asia. To facilitate this role, TAL will be one of five tolling customers at the Freeport (FCX) LNG project in Quintana, Texas. Toshiba has also entered into a pipeline capacity agreement with an affiliate of the Enbridge (ENB) to bring U.S. natural gas to the Freeport LNG facility and with Gulf LNG for tug services. Over the coming months and years, TAL will be entering into additional arrangements to facilitate the delivery of U.S. LNG, the company added.

ENB

Enbridge

$41.77

-0.03 (-0.07%)

TOSBF

Toshiba, also use TOSYY

$2.34

-0.064 (-2.67%)

TOSYY

Toshiba, also use TOSBF

$14.02

-0.336 (-2.34%)

FCX

Freeport McMoRan

$14.50

0.125 (0.87%)

  • 03

    Aug

ENB Enbridge
$41.77

-0.03 (-0.07%)

05/02/17
MSCO
05/02/17
INITIATION
Target $45
MSCO
Equal Weight
Enbridge initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Tom Abrams initiated Enbridge with an Equal Weight and a $45 price target saying valuation appears fair.
05/02/17
05/02/17
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. Adobe (ADBE) initiated with an Overweight at Barclays. 2. Okta (OKTA) initiated with a Hold at Canaccord, an Overweight at JPMorgan, and a Neutral at Goldman Sachs. 3. Enbridge (ENB) initiated with an Equal Weight at Morgan Stanley. 4. C&J Energy Services (CJ) reinitiated with an Outperform at Credit Suisse and initiated with an Equal Weight at Morgan Stanley. 5. Madison Square Garden (MSG) initiated with a Buy at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/12/17
WOLF
05/12/17
INITIATION
Target $43
WOLF
Peer Perform
Enbridge initiated with a Peer Perform at Wolfe Research
Wolfe Research initiated Enbridge with a Peer Perform and a $43 price target citing relatively low valuation.
06/23/17
JPMS
06/23/17
DOWNGRADE
JPMS
Neutral
Enbridge downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Jeremy Tonet resumed coverage of Enbridge with a Neutral rating and C$61 price target following a period of being restricted. Prior to the restriction, the firm had a an Overweight rating and C$64 price target on Enbridge shares. Tonet called Enbridge a core energy infrastructure holding, but cited valuation for his Neutral rating.
TOSBF Toshiba, also use TOSYY
$2.34

-0.064 (-2.67%)

06/09/17
NOMU
06/09/17
NO CHANGE
NOMU
Micron has positive read through from Broadcom news, says Nomura Instinet
After meeting with Broadcom's (AVGO) CEO, Nomura analyst Romit Shah thinks that the company tried to buy Toshiba's (TOSBF) NAND flash business. The analyst says that Broadcom's effort should lead investors to question whether Micron (MU) is undervalued. He keeps a $40 price target and Buy rating on the shares.
06/27/17
BTIG
06/27/17
NO CHANGE
BTIG
Western Digital fundamentals still 'quite strong,' says BTIG
BTIG analyst Edward Parker says that Western Digital's (WDC) "strong preliminary results" indicate that its "fundamentals remain quite strong." The analyst says he doesn't believe that Toshiba (TOSBF, TOSYY) can sell its share in the chip joint venture while Western Digital is seeking injunctive relief. He adds that the intensity of the battle over the joint venture shows that there is widespread optimism about the memory sector. He keeps a $120 price target and a Buy rating on Western Digital.
07/17/17
COWN
07/17/17
NO CHANGE
Target $117
COWN
Outperform
Western Digital successful bid for Toshiba unit would be accretive, says Cowen
Cowen analyst Karl Ackerman noted Western Digital (WDC) won three court victories in its case against Toshiba (TOSBF), which he sees strengthening its position to acquire the remaining 50% of its memory division. The analyst believes a successful bid would yield 10-15% accretion to earnings in 2018 and drive a higher multiple for Western Digital shares. Ackerman reiterated his Outperform rating and $117 price target on Western Digital.
05/24/17
STFL
05/24/17
NO CHANGE
STFL
Western Digital acquisition of Toshiba could be 10%-15% accretive, says Stifel
After Kyodo News reported that Western Digital (WDC) has offered to buy Toshiba (TOSBF) for about $18B, Stifel analyst Aaron Rakers estimates that the deal could be 10%-15% accretive for Western Digital at that price. He keeps a $120 price target and a Buy rating on Western Digital.
TOSYY Toshiba, also use TOSBF
$14.02

-0.336 (-2.34%)

03/31/17
UBSW
03/31/17
NO CHANGE
Target $245
UBSW
Buy
Broadcom deal for Toshiba NAND has wide range of accretion potential, says UBS
UBS analyst Stephen Chin commented on the Nikkei report that Broadcom (AVGO) and Silver Lake Partners had submitted a bid to acquire Toshiba's (TOSBF) NAND business for $17.9B, saying he would not be surprised if Broadcom were in fact a bidder but he is not sure if a deal will happen. Depending on the structure of a deal, his pro forma scenarios range from 3% EPS accretion in FY18 to 9% in FY19 accretion, he tells investors. Chin keeps a Buy rating and $245 price target on Broadcom shares, which slid by 0.6% to close at $220.04 yesterday.
05/18/17
UBSW
05/18/17
NO CHANGE
Target $21
UBSW
Buy
Marvell shares will outperform when company addresses trends, says UBS
UBS analyst Stephen Chin laid out three reasons why he still likes Marvell (MRVL) shares. He cited its strong balance sheet and a decision on either a big buyback or an acquisition soon; expectations for storage sales to continue to grow; and his view that the concerns about the possibility of a competitor buying Toshiba's (TOSBF) memory assets are overblown. The analyst feels Marvell's valuation remains attractive and once the company addresses concerns about fundamental trends in storage, the stock should outperform. Chin maintained his Buy rating and $21 price target on Marvell shares.
03/17/17
RBCM
03/17/17
NO CHANGE
RBCM
Western Digital likely to acquire Toshiba, says RBC Capital
After multiple media reports stated that the Japanese government probably won;t rescue Toshiba (TOSBF, TOSYY), RBC Capital analyst Amit Daryanani says that the news "greatly increases" the odds of the company being acquired by U.S. entities. He thinks that Western Digital (WDX), in partnership with private equity firms, is the "high probability acquirer" of the company. By undertaking the deal, Western Digital would "further improve its NAND position and drive significant accretion with an upside bias to our $12.00+ EPS scenario," Daryanani wrote. He kept a $90 price target and an Outperform rating on the shares.
FCX Freeport McMoRan
$14.50

0.125 (0.87%)

07/12/17
07/12/17
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. Monsanto (MON) downgraded to Hold from Buy at Jefferies with analyst Laurence Alexander saying Bayer's (BAYRY) all-cash offer appears on track for year-end. The analyst views the deal failing as a "low-probability scenario" and keeps a $128 price target for the shares. 2. Freeport McMoRan (FCX) downgraded to Sell from Hold at Berenberg. 3. Kimberly-Clark (KMB) downgraded to Sell from Neutral at UBS with analyst Stephen Powers saying the stock's 11% rise year-to-date is not based on fundamentals but news flow of consolidation in the Household Products sector. 4. Harley-Davidson (HOG) downgraded to Market Perform from Outperform at Bernstein with analyst David Beckel citing his belief that "demographic shifts and a stagnating economy" will prevent demand for the company's motorcycles from growing in the U.S. for the next five years. 5. IMAX (IMAX) downgraded to Market Perform from Outperform at Barrington with analyst James Goss saying positive catalysts "might take some time to develop." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/12/17
BREN
07/12/17
DOWNGRADE
BREN
Sell
Freeport McMoRan downgraded to Sell from Hold at Berenberg
Berenberg analyst Fawzi Hanano downgraded Freeport McMoRan to Sell.
04/27/17
DBAB
04/27/17
NO CHANGE
Target $14
DBAB
Hold
Freeport McMoRan risk/reward not yet favorable, says Deutsche Bank
Deutsche Bank analyst Chris Terry says Freeport McMoRan's Q1 results were impacted by strikes, weather and a host of issues at Grasberg. The analyst does not see an attractive risk/reward opportunity with the key operating terms at Grasberg over the medium-to-long term remaining unresolved. He keeps a Hold rating on the shares with a $14 price target.
04/11/17
COWN
04/11/17
NO CHANGE
COWN
Outperform
Cowen incrementally more constructive on copper fundamentals
Cowen analyst Novid Rassouli said he is more constructive on the near and long-term fundamentals of copper, citing the supply shortage and recent China data points that suggest a healthy level of demand. Rassouli reiterated his Outperform rating on Freeport McMoRan shares and a Neutral rating on Southern Copper shares.

TODAY'S FREE FLY STORIES

TSLA

Tesla

$312.60

-5.21 (-1.64%)

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TSLA

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GlaxoSmithKline

$35.06

0.25 (0.72%)

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SVM

Silvercorp Metals

$2.51

-0.07 (-2.71%)

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CEL

Cellcom Israel

$10.00

-0.1 (-0.99%)

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GASS

StealthGas

$4.07

0.36 (9.70%)

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CPRT

Copart

$41.01

4.31 (11.74%)

07:02
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  • 19

    Dec

DE

Deere

$145.25

6.02 (4.32%)

06:56
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06:56
Upgrade
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  • 28

    Nov

DE

Deere

$145.25

6.02 (4.32%)

06:55
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  • 28

    Nov

06:40
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General news
FX Update: The dollar has remained on a weakening track »

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SECO

Seeco Holding

$8.34

0.14 (1.71%)

04:55
11/23/17
11/23
04:55
11/23/17
04:55
Conference/Events
Seeco Holding management to meet with Jefferies »

Meetings to be held in…

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  • 23

    Nov

04:55
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BASFY

BASF

$27.39

-0.13 (-0.47%)

04:55
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Conference/Events
BASF management to meet with Evercore ISI »

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  • 23

    Nov

  • 24

    Nov

RBS

RBS

$7.30

-0.04 (-0.54%)

04:55
11/23/17
11/23
04:55
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04:55
Conference/Events
RBS management to meet with Jefferies »

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  • 23

    Nov

  • 24

    Nov

04:25
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L

Loews

$49.36

-0.02 (-0.04%)

, GE

General Electric

$18.15

0.32 (1.79%)

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L

Loews

$49.36

-0.02 (-0.04%)

GE

General Electric

$18.15

0.32 (1.79%)

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BRFS

BRF S.A.

$12.77

-0.16 (-1.24%)

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SU

Suncor

$35.42

0.2 (0.57%)

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  • 05

    Dec

SAP

SAP

$113.85

-1.44 (-1.25%)

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FB

Facebook

$180.87

-0.99 (-0.54%)

17:47
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CSX

CSX

$51.01

0.79 (1.57%)

17:24
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Periodicals
CSX to charge more fees on customers that disregard shipping rules, Reuters says »

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  • 28

    Nov

AYTU

Aytu BioScience

$3.03

0.4301 (16.54%)

17:10
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Breaking Syndicate news story on Aytu BioScience »

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EPIX

ESSA Pharma

$0.27

0.0059 (2.27%)

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