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NEFF

Acquired by URI

$24.78

-1.375 (-5.26%)

, HEES

H&E Equipment

$21.09

0.16 (0.76%)

10:28
08/16/17
08/16
10:28
08/16/17
10:28

Neff: H&E Equipment won't submit revised proposal to acquire company

Neff Corporation (NEFF) announced that it has received notice from H&E Equipment Services (HEES) that H&E has determined not to submit a revised proposal to acquire the company in response to a previously announced acquisition proposal from a strategic bidder to acquire all of the outstanding shares of the company for $25.00 per share in cash.. As previously announced on August 13, 2017, the company's Board of Directors had determined the alternative proposal from the strategic bidder constituted a "Superior Proposal" to the pending merger with H&E. Having received notice that H&E does not intend to modify the terms of the existing merger agreement, the company will now move forward with its discussions with the strategic bidder. Under the previously announced agreement with H&E, the company is required to pay a $13.2M termination fee to H&E if the company terminates the existing merger agreement. As announced, the strategic bidder has agreed to pay the termination fee to H&E on the company's behalf in the event that the strategic bidder and the company enter into a definitive merger agreement.

NEFF

Acquired by URI

$24.78

-1.375 (-5.26%)

HEES

H&E Equipment

$21.09

0.16 (0.76%)

NEFF Acquired by URI
$24.78

-1.375 (-5.26%)

03/15/17
03/15/17
UPGRADE
Target $20

Buy
Neff double upgraded to Buy on improving pricing, free cash flow at BofA/Merrill
As previously reported, BofA Merrill Lynch analyst Ross Gilardi upgraded Neff (NEFF) by two notches, to Buy from Underperform, and raised his price target on the shares to $20 from $12. The analyst said the read-across on rental from CONEXPO was positive, pricing in the rental market is improving, state fiscal stimulus measures are supportive in the Sunbelt region and that the company's free cash flow generation is reassuring. Gilardi also noted that Neff shares have lagged industry leader United Rentals (URI) year-to-date and thinks his new target, which is an 11% discount to his target for United Rentals, "seems justified."
03/15/17
BOFA
03/15/17
UPGRADE
BOFA
Buy
Neff upgraded to Buy from Underperform at BofA/Merrill
11/29/16
JEFF
11/29/16
DOWNGRADE
Target $14
JEFF
Hold
Neff downgraded to Hold from Buy at Jefferies
Jefferies analyst Justin Jordan downgraded Neff to Hold saying the company's larger national peers are better positioned to win infrastructure work and benefit from stimulus under President Trump. The analyst also notes the stock is up 49% since the U.S. election. He raised his price target for Neff shares to $14 from $12.
11/23/16
PIPR
11/23/16
NO CHANGE
Target $112
PIPR
Overweight
Piper ups price targets after Rental Sentiment Survey
Piper Jaffray analyst George Tong raised his price targets for United Rentals (URI) and Neff (NEFF) following his firm's Rental Sentiment Survey of rental executives. The results increased the analyst's confidence in a "strengthening equipment rental demand outlook driven by aggressive planned increases in infrastructure spending under a Trump administration." Checks show stronger expectations for rental revenue growth over the next year, backed by an uptick in both rental rate and rental volume growth trends, Tong tells investors in a research note. He also believes increases in infrastructure spending will likely benefit 2018 estimates. The analyst raised his price target for United Rentals to $112 from $95 and for Neff to $15 from $13 citing a stronger spending outlook. Tong is a buyer of both stocks.
HEES H&E Equipment
$21.09

0.16 (0.76%)

01/10/17
LBOW
01/10/17
NO CHANGE
LBOW
H&E Equipment price target raised to $26 from $22 at Longbow
Longbow analyst Neil Fronhapple raised his price target on H&E Equipment as he believes that the stock's risk/reward ratio remains positive following the stock's advance. The analyst says that his "positive view..is emboldened by the backdrop of potentially higher infrastructure spending starting in 2018, a possible lengthening of the non-residential construction cycle, and higher oil prices." He keeps above-consensus estimates and a Buy rating on the stock.
10/07/16
UBSW
10/07/16
DOWNGRADE
Target $14.44
UBSW
Sell
H&E Equipment downgraded to Sell from Neutral at UBS
UBS analyst Steven Fisher downgraded H&E Equipment (HEES) to Sell saying his firm's geospatial analysis indicates rental business competition between the company and United Rentals (URI) has increased over the past year. The analyst believes H&E's rental business could remain under pressure as Gulf Coast project spending slows while a crane recovery is unlikely in 2017 amid a muted construction growth cycle. Fisher lowered his price target for H&E shares to $14.44 from $17.50.

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ACOR

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DPLO

Diplomat Pharmacy

$14.99

-0.015 (-0.10%)

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General Dynamics

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Viacom

$26.15

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CMCSA

Comcast

$36.16

-0.91 (-2.45%)

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HON

Honeywell

$147.08

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URBN

Urban Outfitters

$27.90

1.45 (5.48%)

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$6.96

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ZIOP

Ziopharm

$4.57

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