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FLS

Flowserve

$42.65

0.84 (2.01%)

, IR

Ingersoll-Rand

$86.30

0.49 (0.57%)

17:46
12/07/17
12/07
17:46
12/07/17
17:46

Flowserve downgraded to Sell from Neutral at Goldman Sachs

Goldman Sachs analyst Joseph Ritchie downgraded Flowserve (FLS) to Sell citing concerns over free cash flow and his belief that consensus expectations are aggressive. The analyst tonight also upgraded Ingersoll-Rand (IR) to Buy and downgraded Johnson Controls (JCI) to Sell.

FLS

Flowserve

$42.65

0.84 (2.01%)

IR

Ingersoll-Rand

$86.30

0.49 (0.57%)

JCI

Johnson Controls

$37.36

0.12 (0.32%)

  • 07

    Dec

FLS Flowserve
$42.65

0.84 (2.01%)

11/03/17
BMOC
11/03/17
DOWNGRADE
BMOC
Market Perform
Flowserve downgraded to Market Perform from Outperform at BMO Capital
11/03/17
BMOC
11/03/17
DOWNGRADE
Target $41
BMOC
Market Perform
Flowserve downgraded to Market Perform at BMO Capital on soft bookings outlook
As noted earlier, BMO Capital analyst R. Scott Graham downgraded Flowserve to Market Perform from Outperform and lowered his price target to $41 from $51. Graham says that while Q3 results were mixed with an EPS beat and higher backlog, the conference call sentiment was more negative, anticipating bookings to remain weak in Q4 and for improvement in Industrial Product Division to take longer than expected. The analyst also notes limited progress on reduction in Selling, General and Administrative Expenses relative to the cost-reduction message in the company's September analyst meeting.
11/03/17
GHSC
11/03/17
DOWNGRADE
GHSC
Neutral
Flowserve downgraded to Neutral from Buy at Seaport Global
Seaport Global analyst Wait Liptak downgraded Flowserve to Neutral and lowered its price target to $40 from $60 saying order delays and margin issues impacted management's 2018 outlook The analyst said total bookings were down 6.9% and adjusted operation margins declined to 9.3% from 12.3%, lowering his confidence in a turnaround.
11/03/17
11/03/17
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. Blue Apron (APRN) downgraded to Underweight from Equal Weight at Barclays with analyst Ross Sandler saying while the company's third quarter revenue topped his estimate by 10%, the company burned $78M in free cash flow in the quarter, more than he expected. 2. Teva (TEVA) downgraded to Hold from Buy at Deutsche Bank with analyst Gregg Gilbert saying following the "disappointing" third quarter results and fourth quarter outlook, the analyst does not see enough to justify a Buy rating given the "multitude of uncertainties" on Teva's capital structure, core generic business, and management's ability to forecast its business. 3. Pandora (P) downgraded to Neutral from Buy at B. Riley FBR, to Neutral from Overweight at JPMorgan, and to Hold from Buy at SunTrust and Stifel. 4. Flowserve (FLS) downgraded to Neutral from Buy at Seaport Global and to Market Perform from Outperform at BMO Capital. 5. Newell Brands (NWL) downgraded to Outperform from Top Pick at RBC Capital and to Market Perform from Strong Buy at Raymond James. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
IR Ingersoll-Rand
$86.30

0.49 (0.57%)

10/17/17
BOFA
10/17/17
DOWNGRADE
BOFA
Neutral
Ingersoll-Rand downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analyst Andrew Obin downgraded Ingersoll-Rand to Neutral as shares are approaching his $96 price target.
10/27/17
MSCO
10/27/17
DOWNGRADE
MSCO
Equal Weight
Ingersoll-Rand downgraded to Equal Weight from Overweight at Morgan Stanley
10/27/17
10/27/17
DOWNGRADE
Target $98

Equal Weight
Ingersoll-Rand downgraded to Equal Weight at Morgan Stanley
As previously reported, Morgan Stanley analyst Nigel Coe downgraded Ingersoll-Rand to Equal Weight from Overweight, contending that U.S. non-residential market headwinds and rising raw material inflation are both factors that argue against a premium rating on the stock. Coe trimmed his price target on Ingersoll-Rand shares to $98 from $100.
12/07/17
GSCO
12/07/17
UPGRADE
GSCO
Buy
Ingersoll-Rand upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Joseph Ritchie upgraded Ingersoll-Rand to Buy saying the stock is his favorite value idea for 2018. The analyst is positive on the Americas Multi-Industry space for 2018 due to capital expenditure growth and tax reform, which he feels could drive investment and improve margins.
JCI Johnson Controls
$37.36

0.12 (0.32%)

11/15/17
SUSQ
11/15/17
DOWNGRADE
SUSQ
Neutral
Johnson Controls downgraded to Neutral from Positive at Susquehanna
11/15/17
SUSQ
11/15/17
DOWNGRADE
Target $40
SUSQ
Neutral
Johnson Controls downgraded to Neutral at Susquehanna
As reported previously, Susquehanna analyst Robert Barry downgraded Johnson Controls to Neutral from Positive. The analyst cited rising margin pressures, a weaker earnings growth outlook and less apparent upside to multiples. Barry lowered his price target to $40 from $48 on Johnson Controls shares.
11/15/17
11/15/17
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. Snap (SNAP) downgraded to Market Perform from Outperform at JMP Securities with analyst Ronald Josey citing its slowing daily active user growth and the risk that its pending app redesign could further impact DAUs. 2. Johnson Controls (JCI) downgraded to Neutral from Positive at Susquehanna with analyst Robert Barry citing rising margin pressures, a weaker earnings growth outlook and less apparent upside to multiples. 3. Cardinal Health (CAH) downgraded to Hold from Buy at Argus with analyst David Toung saying price deflation in generic drugs may continue to pressure pharma distribution margins which already fell for eight consecutive quarters. 4. Cenovus Energy (CVE) downgraded to Sector Perform from Outperform at Scotiabank. 5. TechnipFMC (FTI) downgraded to Reduce from Hold at HSBC. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/07/17
GSCO
12/07/17
DOWNGRADE
GSCO
Sell
Johnson Controls downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Joseph Ritchie downgraded Johnson Controls to Sell citing concerns over free cash flow and his belief that consensus expectations are aggressive.

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