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AKZOY

AkzoNobel

$29.84

-0.39 (-1.29%)

, PPG

PPG

$101.84

-1.53 (-1.48%)

13:45
08/10/17
08/10
13:45
08/10/17
13:45

Dutch court dismisses Elliott's bid to oust Akzo Nobel chairman, Telegraph says

An effort by activist investor Elliott Advisors to remove the chairman of Dulux owner Akzo Nobel (AKZOY) has been dismissed by a Dutch court, Telegraph reports. Elliott had recently called for an emergency general meeting to vote on chairman Antony Burgmans' role after Elliott was displeased that he rebuffed a EUR26B acquisition offer by PPG Industries (PPG), the report notes. Reference Link

AKZOY

AkzoNobel

$29.84

-0.39 (-1.29%)

PPG

PPG

$101.84

-1.53 (-1.48%)

AKZOY AkzoNobel
$29.84

-0.39 (-1.29%)

07/21/17
JPMS
07/21/17
NO CHANGE
Target $110
JPMS
Overweight
JPMorgan thinks PPG could make another go at AkzoNobel
PPG Industries (PPG) intended to move on its from acquisition interest in AkzoNobel (AKZOY) following the rejection of its overtures, but the resignation of Akzo's CEO Ton Buchner for health reasons "complicates" that decision, JPMorgan analyst Jeffrey Zekauskas tells investors in a research note. Buchner is strongly against the potential deal, as was Akzo's Chairman Antony Burgmans, who will no longer be Chairman as of May 2018, the analyst points out. Zekauskas believes the likelihood of a renewed acquisition effort from PPG is "larger than might be expected" given the lack of Akzo shareholder support for the Buchner/Bergmans opposition stance. The analyst views PPG shares as attractive given its free cash flow yield of 6%-7% as well as potential benefits from acquisitions. He keeps an Overweight rating on the name with a $110 price target. The coatings maker declined yesterday 6% to $106.72 after reporting Q2 results. Its CEO on the earnings call said the company is putting AkzoNobel in the rear-view mirror.
05/26/17
JEFF
05/26/17
INITIATION
JEFF
Hold
AkzoNobel initiated with a Hold at Jefferies
Jefferies analyst Laurence Alexander started AkzoNobel with a Hold rating and EUR 84 price target.
05/08/17
BERN
05/08/17
NO CHANGE
BERN
AkzoNobel decision likely to be challenged by shareholders, says Bernstein
After AkzoNobel (AKZOY) rejected a third offer by PPG Industries (PPG), Bernstein analyst Jeremy Redenius expects the decision to be challenged by shareholders.The analyst expects shareholders, led by Elliottt, to sue Akzo. He keeps an EUR84 price target and Outperform rating on Akzo.
04/21/17
JPMS
04/21/17
NO CHANGE
Target $110
JPMS
Overweight
PPG would be worth over $130/share with Akzo deal, says JPMorgan
JPMorgan analyst Jeffrey Zekauskas believes PPG Industries (PPG) will bid higher for AkzoNobel (AKZOY) given the accretion potential of the deal. A bid above EUR 90 per share will likely prove attractive to the Akzo shareholder, Zekauskas tells investors in a research note. The analyst believes PPG would be worth in excess of $130 per share following a takeover of Akzo. He continues to view PPG as a good long-term investment and keeps an Overweight rating on the shares with a $110 price target.
PPG PPG
$101.84

-1.53 (-1.48%)

07/24/17
07/24/17
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. Goldman Sachs (GS) downgraded to Neutral from Buy at UBS with analyst Brennan Hawken saying the market seems to be pricing in an inflection in Goldman's trading revenue despite the recent weakness, suggesting a recovery is needed to justify 2018 consensus estimates. 2. Constellation Brands (STZ) downgraded to Neutral from Conviction Buy at Goldman Sachs. 3. Boston Beer (SAM) downgraded to Sell from Neutral at Goldman Sachs with analyst Judy Hong saying she sees further downside risk from weaker volumes and believes 2018 will be another year of volume decline and limited margin offset. 4. athenahealth (ATHN) downgraded to Underweight from Equal-Weight at First Analysis with analyst Frank Sparacino saying the valuation at current share levels is ahead of the underlying fundamentals in the short term. 5. PPG (PPG) was downgraded to Hold from Buy at SunTrust and to Neutral from Buy at BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/24/17
JPMS
07/24/17
INITIATION
Target $365
JPMS
Neutral
Sherwin-Williams reinstated with a Neutral at JPMorgan
JPMorgan analyst Jeffrey Zekauskas reinstated coverage of Sherwin-Williams (SHW) with a Neutral rating and $365 price target. The anlayst prefers PPG (PPG) for its valuation.
07/24/17
RHCO
07/24/17
DOWNGRADE
RHCO
Hold
PPG downgraded on growth ,margin outlook at SunTrust
As noted earlier, SunTrust downgraded PPG to Hold from Buy. Following the company's Q2 results, analyst James Sheehan predicts that the company's EPS will increase just 4% this year due to input cost pressure and low coatings demand. He expects the stock to "remain range-bound" until the company's revenue and/or margins rebound.
07/24/17
BOFA
07/24/17
DOWNGRADE
Target $115
BOFA
Neutral
PPG downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analyst Steve Byrne downgraded PPG to neutral and retained its $115 price target citing sluggish fundamentals and limited near-term catalysts and sees better relative value elsewhere in the group. The analyst said Q2 organic growth was zero and is concerned about the impact from a deceleration in global auto production and said PPG's ability to pass through rising raw material costs is unclear.

TODAY'S FREE FLY STORIES

SPY

SPDR S&P 500 ETF Trust

$260.24

0.4811 (0.19%)

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10:00
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U.S. November Markit manufacturing PMI fell 0.8 points to 53.8 »

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EFX

Equifax

$109.96

0.15 (0.14%)

09:56
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M

Macy's

$21.18

0.55 (2.67%)

, DVA

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$56.72

1.33 (2.40%)

09:55
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Early notable gainers among liquid option names on November 24th »

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M

Macy's

$21.18

0.55 (2.67%)

DVA

DaVita

$56.72

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KSS

Kohl's

$45.31

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HES

Hess Corp.

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GPS

Gap

$29.55

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TSLA

Tesla

$312.60

-5.21 (-1.64%)

09:52
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  • 16

    Jan

OSTK

Overstock.com

$61.05

0.6 (0.99%)

09:51
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Technical Analysis
Technical View: Overstock.com spikes sharply to new 52-week high »

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JPM

JPMorgan

$98.68

0.04 (0.04%)

, CME

CME Group

$141.87

-0.71 (-0.50%)

09:50
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JPM

JPMorgan

$98.68

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CME

CME Group

$141.87

-0.71 (-0.50%)

MS

Morgan Stanley

$49.23

0.14 (0.29%)

MCD

McDonald's

$169.23

0.1804 (0.11%)

AMD

AMD

$11.37

-0.03 (-0.26%)

NVDA

Nvidia

$214.93

-1.12 (-0.52%)

GBTC

Bitcoin Investment Trust

$995.00

23.8 (2.45%)

BITCOIN

Bitcoin

BTC

Bitcoin

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  • 27

    Nov

  • 09

    Jan

  • 27

    Feb

  • 13

    Apr

  • 14

    Jul

  • 12

    Oct

09:42
11/24/17
11/24
09:42
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09:42
General news
S&P 500 rises to all time high at start of holiday-shortened session »

Investors returning from…

STAG

STAG Industrial

09:41
11/24/17
11/24
09:41
11/24/17
09:41
Conference/Events
STAG Industrial management to meet with Evercore ISI »

Meeting to be held in…

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  • 28

    Nov

  • 14

    Dec

ETE

Energy Transfer Equity

, QCOM

Qualcomm

$68.13

1.46 (2.19%)

09:40
11/24/17
11/24
09:40
11/24/17
09:40
Options
Unusually active option classes on open November 24th »

Unusual total active…

ETE

Energy Transfer Equity

QCOM

Qualcomm

$68.13

1.46 (2.19%)

TEVA

Teva

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  • 06

    Mar

COP

ConocoPhillips

09:39
11/24/17
11/24
09:39
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09:39
Conference/Events
ConocoPhillips management to meet with Evercore ISI »

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  • 28

    Nov

  • 29

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QD

Qudian

09:37
11/24/17
11/24
09:37
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09:37
Recommendations
Qudian analyst commentary  »

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MET

MetLife

09:37
11/24/17
11/24
09:37
11/24/17
09:37
Conference/Events
MetLife management to meet with Evercore ISI »

Meeting to be held in…

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  • 28

    Nov

  • 15

    Dec

SOLVY

Solvay

09:35
11/24/17
11/24
09:35
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09:35
Conference/Events
Solvay management to meet with Evercore ISI »

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  • 28

    Nov

SPY

SPDR S&P 500 ETF Trust

, SPX

S&P 500

09:34
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Technical View: S&P 500 edges new life high, pivot high broken »

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SPDR S&P 500 ETF Trust

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GRFS

Grifols

$23.04

-0.13 (-0.56%)

09:33
11/24/17
11/24
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09:33
Downgrade
Grifols rating change  »

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BMA

Banco Macro

09:32
11/24/17
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Downgrade
Banco Macro rating change  »

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TSU

Tim Participacoes

09:32
11/24/17
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09:32
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09:32
Upgrade
Tim Participacoes rating change  »

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09:30
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General news
PMI Composite Flash â€' Level to be reported at 09:45 »

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General news
PMI Composite Flash Manufacturing â€' Level to be reported at 09:45 »

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DSX

Diana Shipping

09:25
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Hot Stocks
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LAUR

Laureate Education

$11.63

0.22 (1.93%)

09:25
11/24/17
11/24
09:25
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09:25
Recommendations
Laureate Education analyst commentary  »

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CPRT

Copart

$41.01

4.31 (11.74%)

09:23
11/24/17
11/24
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11/24/17
09:23
Recommendations
Copart analyst commentary  »

Copart price target…

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  • 19

    Dec

SPX

S&P 500

, VIX

Volatility Index S&P 500 Options

09:18
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Options
Overnight activity included 97 trades in SPX and 9 trades in VIX »

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Volatility Index S&P 500 Options

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SRAX

Social Reality

$5.82

1.59 (37.59%)

09:14
11/24/17
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Technical Analysis
Technical View: Social Reality trades sharply higher in pre-market »

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