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UTX

United Technologies

$115.01

0.51 (0.45%)

, COL

Rockwell Collins

$130.48

0.09 (0.07%)

10:42
09/23/17
09/23
10:42
09/23/17
10:42

Major aircraft makers, suppliers face off, Barron's says

While United Technologies (UTX) proposed $30B acquisition of Rockwell Collins (COL) is not a done deal, its aggressive expansion strategy illustrates trends unfolding in the industry, namely a shift in traditional turf boundaries, Lawrence Strauss writes in this week's edition of Barron's. This is just the latest in a spate of recent M&A deals that illustrate a battle between major commercial aircraft manufacturers, namely Boeing (BA) and Airbus (EADSY), and some of their suppliers, he argues, pointing out that there is "lots of maneuvering" to see who will dominate the lucrative business of being an aerospace hardware and service provider.Reference Link

UTX

United Technologies

$115.01

0.51 (0.45%)

COL

Rockwell Collins

$130.48

0.09 (0.07%)

BA

Boeing

$256.45

0.41 (0.16%)

EADSY

Airbus

$23.06

-0.01 (-0.04%)

  • 23

    Sep

UTX United Technologies
$115.01

0.51 (0.45%)

09/13/17
BARD
09/13/17
DOWNGRADE
BARD
Neutral
Rockwell Collins downgraded to Neutral from Outperform at Baird
Baird analyst Peter Arment downgraded Rockwell Collins (COL) to Neutral from Outperform following its board approval of United Technologies' (UTX) planned acquisition at a nominal price of $140 per share.
09/11/17
BERN
09/11/17
DOWNGRADE
Target $137
BERN
Market Perform
Rockwell Collins downgraded to Market Perform from Outperform at Bernstein
Bernstein analyst Douglas Harned downgraded Rockwell Collins (COL) to Market Perform from Outperform following its board approval of United Technologies' (UTX) planned acquisition at a nominal price of $140/share. The analyst says the stock has moved above $130 related to the deal, and he is concerned that Rockwell Collins' acceptance of a $140 deal price indicates that internal forecasts are more pessimistic than his. He kept a $137 price target on Rockwell Collin's shares, but lowered hist target for United Technologies to $126 from $135, while reiterating a Market-Perform rating.
09/07/17
WOLF
09/07/17
DOWNGRADE
WOLF
Peer Perform
Rockwell Collins downgraded to Peer Perform from Outperform at Wolfe Research
Wolfe Research analyst Hunter Keay downgraded yesterday afternoon Rockwell Collins (COL) to Peer Perform following the company's agreement to be acquired by United Technologies (UTX).
09/06/17
STFL
09/06/17
NO CHANGE
STFL
Stifel says United Tech deal strategic, not a sign of M&A 'floodgates opening'
Stifel analyst Joseph DeNardi said one of the only risks he sees to defense stocks' multiples would be a shift in cash deployment strategy from a focus on dividends and buybacks to M&A. However, he views United Technologies' (UTX) planned acquisition of Rockwell Collins (COL) as strategic and largely focused on its desire to regain leverage against Boeing (BA) and Airbus (EADSY) and not indicative of the M&A "floodgates opening" in the defense sector. Other publicly traded companies in the defense space include BAE Systems (BAESY), General Dynamics (GD), Lockheed Martin (LMT), Northrop Grumman (NOC) and Raytheon (RTN).
COL Rockwell Collins
$130.48

0.09 (0.07%)

09/14/17
RHCO
09/14/17
NO CHANGE
RHCO
Boeing production increase positive for suppliers, says SunTrust
SunTrust analyst Michael Ciarmoli says that Boeing's (BA) decision to increase its production to 14 planes per month in 2019, up from 12 currently, was "surprising" to many investors, including him, who expected the company to maintain or cut its current production level. He thinks that the decision increases the chances that the 2018 and 2019 estimates for airplane suppliers will rise. The analyst says that the following companies can benefit from Boeing's production increase: Astronics (ATRO), Barnes Group (B),Rockwell Collins (COL), KLX Inc. (KLXI), Spirit AeroSystems (SPR),Triumph Group (TGI), Wesco Aircraft (WAIR),and Woodward (WWD),
BA Boeing
$256.45

0.41 (0.16%)

09/20/17
WELS
09/20/17
NO CHANGE
Target $255
WELS
Market Perform
Boeing price target raised to $255 from $240 at Wells Fargo
Wells Fargo analyst Sam Pearlstein raised his price target for Boeing to $255 from $240 after attending the company's 2017 Investor Conference in Charleston, South Carolina. The analyst reiterates a Market Perform rating on the shares.
09/15/17
ADAM
09/15/17
NO CHANGE
Target $235
ADAM
Hold
Boeing price target raised to $235 from $215 at Canaccord
Canaccord analyst Ken Herbert raised his price target on Boeing to $235 from $215 ahead of its analyst day. The analyst said he expects updates on cost and execution and a substantial focus on its services business. Herbert maintained his Hold rating on Boeing shares.
09/22/17
JEFF
09/22/17
NO CHANGE
Target $300
JEFF
Buy
Boeing price target raised to $300 from $275 at Jefferies
Jefferies analyst Howard Rubel raised his price target for Boeing shares to $300 following the company's recent investor day. The analyst boosted his 2019 earnings per share estimate to $12.10 from $12.00 and 2020 estimate to $13.25 from $12.85. Mid-single digit air traffic growth and a "well-considered" plan to increase the 787 line to 14 per month in 2019 should drive Commercial Aircraft deliveries from 748 in 2016 to about 915 by 2020, Rubel tells investors in a research note titled "Building One Boeing from Three Units and Four Million Parts." He keeps a Buy rating on the shares.
09/20/17
BERN
09/20/17
NO CHANGE
Target $303
BERN
Outperform
Boeing price target raised to $303 from $274 at Bernstein
Bernstein analyst Douglas Harned lowered his price target for Boeing to $303 from $274 on valuation following the company's Investor Conference. The analyst reiterates an Outperform rating on the shares.
EADSY Airbus
$23.06

-0.01 (-0.04%)

09/22/17
JEFF
09/22/17
DOWNGRADE
JEFF
Hold
Airbus downgraded to Hold from Buy at Jefferies
Jefferies analyst Sandy Morris downgraded Airbus Group to Hold saying the company's EBIT in FY18 and FY19 could track significantly below consensus expectations. The analyst has a EUR 75 price target on the shares.
09/22/17
09/22/17
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. Versartis (VSAR) was downgraded to Hold from Buy at SunTrust, to Underweight from Overweight at Barclays, to Neutral from Overweight at Piper Jaffray, and to Market Perform from Outperform at Cowen. 2. Tiffany (TIF) downgraded to Neutral from Buy at Goldman Sachs with analyst Lindsay Drucker Mann saying the company's high-end categories, including engagement, wedding and solitaire jewelry, decelerated in the last two quarters. 3. Airbus (EADSY) downgraded to Hold from Buy at Jefferies with analyst Sandy Morris saying the company's EBIT in fiscal 2018 and fiscal 2019 could track significantly below consensus expectations. 4. Alcoa (AA) downgraded to Hold from Buy at Berenberg with analyst Yuriy Vlasov saying Alcoa shares are up 43% over the past six months and recommends taking profits. 5. U.S. Steel (X) was downgraded to Underperform from Market Perform while ArcelorMittal (MT) was downgraded to Market Perform from Outperform at Cowen. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/21/17
BERN
03/21/17
NO CHANGE
BERN
Airbus shares poised to outperform over the long-term, says Bernstein
Bernstein analyst Douglas Harned expects Airbus' earnings and cash flow growth to accelerate significantly in 2018-2019, enabling the stock to outperform. He raised his price target on the name to EUR88 from EUR83.

TODAY'S FREE FLY STORIES

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GEO

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IPCI

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DBVT

DBV Technologies

$48.07

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WFC

Wells Fargo

$54.92

1.17 (2.18%)

17:08
10/20/17
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Periodicals
Regulator criticizes Wells Fargo over deceptive auto insurance program, NYT says »

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ALIM

Alimera Sciences

17:01
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SYMC

Symantec

$32.66

0.33 (1.02%)

16:51
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  • 01

    Nov

EBMT

Eagle Bancorp

$19.55

0.15 (0.77%)

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KALV

KalVista

$11.26

1.99 (21.47%)

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JAGX

Jaguar Health

$0.19

0.002 (1.08%)

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TSLA

Tesla

$345.10

-6.71 (-1.91%)

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SNV

Synovus

$47.30

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GTXI

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ASB

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  • 24

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CNXR

Connecture

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-0.01 (-2.00%)

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GE

General Electric

$23.83

0.25 (1.06%)

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Procter & Gamble

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MKL

Markel

$1,078.23

14.88 (1.40%)

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State National

$21.05

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  • 24

    Oct

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RYTM

Rhythm Pharmaceuticals

$23.08

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C

Citi

$73.53

0.65 (0.89%)

16:20
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