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CSX

CSX

$55.00

0.12 (0.22%)

, HASI

Hannon Armstrong

$23.41

-0.44 (-1.84%)

07:30
12/26/17
12/26
07:30
12/26/17
07:30

Unusual put flow in option market yesterday

Notable put activity was cited Friday in CSX (CSX), Hannon Armstrong (HASI), and Vanda (VNDA).

CSX

CSX

$55.00

0.12 (0.22%)

HASI

Hannon Armstrong

$23.41

-0.44 (-1.84%)

VNDA

Vanda

$15.20

0.25 (1.67%)

CSX CSX
$55.00

0.12 (0.22%)

12/18/17
BARD
12/18/17
NO CHANGE
Target $58
BARD
Outperform
CSX shares should find support in $48-$50 level after CEO passing, says Baird
Baird analyst Benjamin Hartford noted the passing of CSX CEO Hunter Harrison and believes the shares should find support in the $48-$50 level, which is where shares traded during previous periods of transition for the company. While acknowledging his death adds incremental risk to the shares, Hartford maintained his Outperform rating and $58 price target on CSX.
12/18/17
JPMS
12/18/17
NO CHANGE
Target $63
JPMS
Overweight
CSX downside limited to $45-$48 per share, says JPMorgan
JPMorgan analyst Brian Ossenbeck believes Hunter Harrison's legacy will continue at CSX. The analyst reiterates an Overweight rating on the shares with a $63 price target following his death. He estimates downside in the stock is limited to $45-$48 based on his below consensus forecasts, with U.S. tax reform and a "tighter truck market" providing positive near term catalysts. CSX in premarket trading is down 2% to $51.61. The lack of a defined management succession plan remains a near term hurdle for CSX, however, and will not likely be addressed until the investor day in Q1 of 2018, Ossenbeck tells investors in a research note.
12/18/17
12/18/17
DOWNGRADE
Target $54

Hold
CSX downgraded to Hold from Buy at TD Securities
As previously reported, TD Securities downgraded CSX to Hold and cut its price target on the stock to $54 from $63 following the unexpected medical leave of absence and subsequent death of CEO Hunter Harrison, saying senior management now lacks a member with an operating background.
12/18/17
12/18/17
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. CSX (CSX) downgraded to Hold from Buy at TD Securities with the firm citing the unexpected medical leave of absence and subsequent death of CEO Hunter Harrison, saying senior management now lacks a member with an operating background. 2. PG&E (PCG) downgraded to Market Perform from Outperform at Wells Fargo with analyst Neil Kalton saying he sees "significant uncertainty" given the Northern California wildfires in mid-October and also highlights some recent adverse regulatory developments. 3. Oclaro (OCLR) downgraded to Hold from Buy at Needham with analyst Alex Henderson contending that consensus 2018 estimates look too high given the company's limited growth visibility. 4. Engility (EGL) downgraded to Hold from Buy at Drexel Hamilton with the firm saying peers will benefit from a lower tax rate and shares will have a difficult time outperforming the group. 5. Euronet (EEFT) downgraded to Market Perform from Outperform at William Blair. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
HASI Hannon Armstrong
$23.41

-0.44 (-1.84%)

02/13/17
ROTH
02/13/17
NO CHANGE
Target $25
ROTH
Buy
Hannon Armstrong land deal boosts real-estate portfolio, says Roth Capital
Roth Capital analyst Philip Shen sees Hannon Armstrong announced deal to acquire 4k acres of land supporting 690MW of solar for $144M as an incremental positive as it appears to nearly double the company's solar land exposure, which typically has attractive spreads and ROE. The analyst believes shares are currently undervalued and says he would be a buyer at these levels. He reiterates a Buy rating and $25 price target on the stock.
03/13/17
BOFA
03/13/17
INITIATION
Target $22
BOFA
Buy
Hannon Armstrong reinstated with a Buy at BofA/Merrill
BofA/Merrill analyst Brian Chin reinstated Hannon Armstrong with a Buy rating and $22 price target. The analyst believes the recent pullback in the shares, coupled with Hannon's efficiency model, make the name attractive.
11/01/17
11/01/17
NO CHANGE

Hannon Armstrong reports Q3 core EPS 31c, consensus 33c
Reports Q3 revenue $26.4M, may not compare to consensus $11.85M.
12/06/17
ROTH
12/06/17
NO CHANGE
ROTH
Tax bill could put 'BEAT' down on U.S. renewables, says Roth Capital
Roth Capital analyst Philip Shen believes the Senate Tax Cuts and Jobs Act includes multiple elements that could negatively affect renewable tax equity capacity, such as a cut in the corporate rate from 35% to 20%, the passage of the Base Erosion Anti-Abuse Tax, or BEAT, without exemptions for solar/wind credits, and a reduction in the number of years the product tax credit could be claimed from 10 down to four years. Near-term, the analyst believes that continued negotiations on the Hill could cause increased volatility for his universe of stocks with direct or indirect exposure to the U.S. solar and wind markets, such as AMSC (AMSC), Broadwind Energy (BWEN), 8point3 Energy (CAFD), Canadian Solar (CSIQ), Daqo New Energy (DQ), Enphase Energy (ENPH), First Solar (FSLR), Hannon Armstrong (HASI), Hanwah Q CELLS (HQCL), JA Solar (JASO), JinkoSolar (JKS), SolarEdge (SEDG), Sky Solar (SKYS), ReneSola (SOL), Sunworks (SUNW), and TPI Composites (TPIC).
VNDA Vanda
$15.20

0.25 (1.67%)

09/01/17
JMPS
09/01/17
NO CHANGE
JMPS
Vanda risk/reward ratio positive into trial results, says JMP Securities
JMP Securities analyst Jason Butler says that the risk/reward ratio of Vanda stock is attractive ahead of the expected results of a Phase 2 trial evaluating tradipitant to treat pruritus in atopic dermatitis. The analyst says that the risk/reward ratio is positive due to the stock's attractive valuation and the chances of the drug's success. He raised his price target on the shares to $24 from $22 and keeps an Outperform rating on the stock.
09/14/17
PIPR
09/14/17
NO CHANGE
Target $26
PIPR
Overweight
Vanda price target raised to $26 from $23 at Piper Jaffray
Piper Jaffray analyst Charles Duncan raised his price target for Vanda Pharmaceuticals to $26 saying the company's Phase II results with tradipitant in chronic pruritus associated with atopic dermatitis were positive. While the primary endpoint of change in average itch score did not reach statistical significance due to an uncooperative control arm, issues with reporting and variability on this endpoint make that not a surprise, Duncan tells investors in a research note. He feels that the totality of data "clearly show" activity in an all-comers atopic derm sample. The analyst keeps an Overweight rating on Vanda.
10/30/17
OPCO
10/30/17
NO CHANGE
Target $26
OPCO
Outperform
Vanda price target raised to $26 from $21 at Oppenheimer
Oppenheimer analyst Derek Archila raised his price target for Vanda to $26 from $21 based on his more bullish Hetlioz forecasts. The analyst believes the recent pullback provides a nice entry point for investors as he expects base business growth to accelerate in the next 12-18 months. Archila reiterates an Outperform rating on the shares.
11/13/17
OPCO
11/13/17
NO CHANGE
Target $25
OPCO
Outperform
Vanda selloff overdone, says Oppenheimer at Oppenheimer
Oppenheimer analyst Derek Archila believes the selloff post Q3 earnings is overdone and that fear of slowing Hetlioz volumes/sales is overblown. While there were some certain impacts to Hetlioz growth during Q3, the analyst continues to look at the bigger picture for the drug, particularly among sighted Non-24 patients which we view as a big opportunity. Archila would be a buyer, and retains high conviction on Hetlioz sales acceleration over the next 12-18 months and expect further upside. He reiterates an Outperform rating on the shares, while lowering his price target on the shares to $25 from $26.

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$46.57

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FDEF

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RBB

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