  - $34.27
0.67 (1.99%) - 12/11/17
- SBSH
Citi sees potential sale of Voya assets as win for three companies Citi analyst Suneet Kamath says Voya Financial's (VOYA) potential sale of $50B in annuity assets to Apollo Global (APO) could be a win for both companies along with Athene Holding (ATH). Considering the relationship between Apollo and Athene, any transfer of general account assets from Voya to Apollo would eventually be housed in Athene, Kamath tells investors in a research note. He estimates a Voya annuity deal could add at least $2 to his Apollo price target. The analyst continues to see more upside in Apollo than Athene. - 01/03/18
- MSCO
01/03/18
UPGRADEMSCO
Overweight Apollo Global upgraded to Overweight from Equal Weight at Morgan Stanley - 01/03/18
- MSCO
01/03/18
UPGRADETarget $62
MSCO
Equal Weight LPL Financial upgraded to Equal Weight from Underweight at Morgan Stanley Morgan Stanley analyst Michael Cyprys raised his 2018 and 2019 EPS estimates by 25% and 20%, respectively, for discount brokers and 17% and 16%, respectively, for traditional asset managers, after updating for stronger equity markets, the latest forward curve and tax cuts. Given this context, he upgraded LPL Financial to Equal Weight from Underweight, stating that he views it as a key beneficiary of tax reform, rising short-term interest rates and strong equity markets. Cyprys increased his price target on LPL shares to $62 from $45. He also upgraded Apollo Global (APO) and E-Trade (ETFC), each to Overweight from Equal Weight. - 01/03/18
- MSCO
01/03/18
UPGRADETarget $42
MSCO
Overweight Apollo Global upgraded to Overweight at Morgan Stanley As previously reported, Morgan Stanley analyst Michael Cyprys upgraded Apollo Global to Overweight from Equal Weight, noting that the company is entering its portfolio harvesting stage and he has become more bullish on its growth prospects with the credit business scaling faster. For Apollo, and other alternative asset managers, he also assumes lower tax rates and a higher multiple on fee-related earnings. Cyprys increased his price target on Apollo shares to $42 from $32. - $26.64
0.34 (1.29%) - 11/03/17
- COMP
11/03/17
DOWNGRADECOMP
Neutral OneMain Holdings downgraded to Neutral from Buy at Compass Point - 11/08/17
- BOFA
11/08/17
DOWNGRADETarget $30
BOFA
Neutral OneMain Holdings downgraded to Neutral from Buy at BofA/Merrill BofA/Merrill analyst Kenneth Bruce downgraded OneMain Holding to Neutral and cut its price target to $30 from $35 following the strategic review and decision to pursue its previously announced strategy and the announced 10M share secondary offering by Fortress-affiliated funds. The analyst said the additional shares are 20% of the float and sees further downside as the news and shares are digested by investors. - 11/08/17
- JANY
11/08/17
NO CHANGETarget $28
JANY
Neutral OneMain Holdings 10-Q seems to end takeover speculation, says Janney Capital Janney Capital analyst John Rowan noted that several media reports emerged in October that OneMain Holdings was up for sale, but the company's 10-Q contained "two inconspicuous sentences" that appeared to end that speculation, as OneMain stated that it "recently completed an evaluation of certain alternatives to maximize stockholder value, including a sale of its business. The evaluation has concluded and the company continues to implement its previously disclosed strategies." Since he had not adjusted his valuation of OneMain based on any takeover scenario, Rowan keeps a Neutral rating and $28 fair value estimate on the shares following the disclosure. - 12/12/17
- FBCO
12/12/17
NO CHANGEFBCO
Outperform Synchrony, Discover among biggest beneficiaries of tax reform, says Credit Suisse Credit Suisse analyst Moshe Orenbuch views tax reform as highly beneficial to U.S. consumer finance companies as most companies are full U.S. tax payers and any increases in consumer confidence from more cash flow could lead to more consumer borrowing, driving faster revenue growth and improved credit quality. His favorites to benefit from tax reform are Synchrony (SYF), Discover (DFS), OneMain (OMF), CIT Group (CIT), Santander Consumer (SC), Sallie Mae (SLM), and Air Lease (AL). |