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STLD

Steel Dynamics

$45.60

-0.35 (-0.76%)

09:03
01/08/18
01/08
09:03
01/08/18
09:03

Steel Dynamics price target raised to $51 from $45 at BofA/Merrill

BofA/Merrill analyst Timna Tanners raised her price target for Steel Dynamics to $51 from $45 as she believes U.S. benchmark steel prices will surge past $700 as 2018 starts with a bang. The analyst reiterates a Buy rating on the shares.

  • 23

    Jan

STLD Steel Dynamics
$45.60

-0.35 (-0.76%)

12/20/17
LBOW
12/20/17
UPGRADE
Target $47
LBOW
Buy
Steel Dynamics upgraded to Buy on positive survey results at Longbow
As previously reported, Longbow upgraded Steel Dynamics to Buy from Neutral with a $47 price target. Analyst Chris Olin's latest carbon steel survey work suggests domestic producers are positioned to realize impressive earnings growth over the next 12-18 months on much higher flat rolled pricing, favorable automotive/annual contract rollovers, and pending tax reform. Olin raised his 2018 HRC price forecast by $45-$50/ton to $660-$670/ton and sees further upside should the DOC release a positive Section-232 recommendation in mid-January. As previously reported, Longbow upgraded Steel Dynamics to Buy from Neutral with a $47 price target.
12/20/17
12/20/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. United Continental (UAL) upgraded to Buy from Neutral at Buckingham with the firm citing the active steps the company is taking to address revenue weakness, its commercial initiatives, a favorable macro backdrop that is driving booking strength, and the longer term cash implications of tax reform. 2. Wendy's (WEN) upgraded to Outperform from Neutral at Wedbush with analyst Nick Setyan citing "solid" same-store sales growth and visibility into free cash flow generation. 3. Biogen (BIIB) upgraded to Outperform from Neutral at Credit Suisse with analyst Alethia Young saying a "significant turnaround" is underway for Biogen's business. 4. Steel Dynamics (STLD) was upgraded to Buy from Neutral at Longbow while, U.S. Steel (X), AK Steel (AKS), and Nucor (NUE) were upgraded to Buy from Neutral. 5. Zimmer Biomet (ZBH) upgraded to Neutral from Sell at Goldman Sachs with analyst Isaac Ro saying he sees Bryan Hanson's CEO appointment as a positive step forward in the turnaround process, although he noted that the company's fundamentals are still challenged and the turnaround will take time. Shares were also upgraded to Outperform from Market Perform at Wells Fargo. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/21/17
MSCO
12/21/17
NO CHANGE
MSCO
Equal Weight
Cleveland-Cliffs a key beneficiary of corporate AMT repeal, says Morgan Stanley
Morgan Stanley analyst Piyush Sood noted that Steel Dynamics (STLD) and Nucor (NUE) have been the "preferred tax reform plays" in the steel sector, but he believes that Cleveland-Cliffs (CLF), as well as Warrior Met Coal (HCC) and Freeport McMoran (FCX), should benefit from the corporate alternative minimum tax repeal, as they all carry substantial AMT credits on their balance sheets. He keeps Equal Weight ratings on Cleveland, Warrior and Freeport.
12/29/17
JEFF
12/29/17
NO CHANGE
JEFF
Jefferies positive on U.S. steelmakers after talking to recyclers
Jefferies analyst Seth Rosenfeld says recyclers he contacted this week expect January scrap prices to move up $20-$30 per ton sequentially on average. Recyclers pointed to three key factors driving prices: robust export demand, frigid weather adversely impacting inbound flows and improved domestic demand post the holiday lull, Rosenfeld tells investors in a research note. With sentiment remaining positive into the new year, the analyst finds it probable that flat rolled producers will introduce an incremental price hike to expand metal spreads post January's scrap settlement. He remains positive on U.S. steelmakers, specifically his top picks Steel Dynamics (STLD), U.S. Steel (X), Nucor (NUE), ArcelorMittal (MT) and Commercial Metals (CMC).

TODAY'S FREE FLY STORIES

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BNY Mellon

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ARNA

Arena Pharmaceuticals

$34.36

0.48 (1.42%)

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ROSE

Rosehill Resources

$7.96

0.01 (0.13%)

20:12
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Initiation
Rosehill Resources initiated at Northland »

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HES

Hess Corp.

$54.02

0.48 (0.90%)

20:10
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Initiation
Hess Corp. initiated at Macquarie »

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  • 05

    Feb

OXY

Occidental Petroleum

$75.86

0.59 (0.78%)

20:10
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Initiation
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  • 14

    Feb

JUNO

Juno Therapeutics

$69.25

23.65 (51.86%)

19:53
01/17/18
01/17
19:53
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19:53
Downgrade
Juno Therapeutics rating change at Citi »

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WP

Worldpay

$77.89

-0.37 (-0.47%)

19:52
01/17/18
01/17
19:52
01/17/18
19:52
Upgrade
Worldpay rating change at BMO Capital »

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FRAC

Keane Group

$18.51

0.63 (3.52%)

19:52
01/17/18
01/17
19:52
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19:52
Syndicate
Keane Group 13.3M share Secondary priced at $18.25 »

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  • 18

    Jan

INTC

Intel

$44.39

1.25 (2.90%)

19:24
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01/17
19:24
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19:24
Hot Stocks
Intel says issued firmware updates for 90% of CPUs in past vie years »

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  • 17

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    Jan

TOSBF

Toshiba, also use TOSYY

, TOSYY

Toshiba, also use TOSBF

$16.95

-0.01 (-0.06%)

19:11
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01/17
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19:11
Periodicals
Toshiba's Westinghouse to forgo bankruptcy, Reuters reports »

Westinghouse Electric…

TOSBF

Toshiba, also use TOSYY

TOSYY

Toshiba, also use TOSBF

$16.95

-0.01 (-0.06%)

BAM

Brookfield

$43.10

0.42 (0.98%)

03/08/13
Wedge Partners
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RDS.A

Royal Dutch Shell

$70.20

0.22 (0.31%)

, RDS.B

Royal Dutch Shell

$72.34

0.35 (0.49%)

19:02
01/17/18
01/17
19:02
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19:02
Periodicals
Shell, BP each agree to purchase Libyan oil, Bloomberg reports »

Royal Dutch Shell (RDS.A)…

RDS.A

Royal Dutch Shell

$70.20

0.22 (0.31%)

RDS.B

Royal Dutch Shell

$72.34

0.35 (0.49%)

BP

BP

$42.88

0.42 (0.99%)

03/08/13
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  • 18

    Jan

AAPL

Apple

$179.10

2.91 (1.65%)

18:31
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01/17
18:31
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18:31
Hot Stocks
Trump says Apple investments 'huge win for American workers' »

President Donald Trump…

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  • 01

    Feb

MPVD

Mountain Province Diamonds

$2.83

0.075 (2.73%)

18:22
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Mountain Province Diamonds provides update on Gahcho Kue Mine exploration »

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WAC

Walter Investment

$0.76

0.0347 (4.81%)

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Walter Investment prepackaged Chapter 11 plan approved by court »

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TM

Toyota

$140.72

2.75 (1.99%)

, KBSTY

Kobe Steel

18:10
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01/17
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18:10
Periodicals
Toyota not affected by Kobe Steel false data scandal, Nikkei reports »

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TM

Toyota

$140.72

2.75 (1.99%)

KBSTY

Kobe Steel

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CBOE

Cboe Global Markets

$131.52

0.73 (0.56%)

, BTC

Bitcoin

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Hot Stocks
Cboe conducts first settlement of Cboe bitcoin futures »

Cboe Global Markets…

CBOE

Cboe Global Markets

$131.52

0.73 (0.56%)

BTC

Bitcoin

BITCOIN

Bitcoin

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  • 09

    Feb

GWRE

Guidewire

$75.64

0.19 (0.25%)

17:46
01/17/18
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17:46
Hot Stocks
Guidewire director sells 6,000 common shares »

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AAPL

Apple

$179.10

2.91 (1.65%)

17:40
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Recommendations
Apple analyst commentary at Piper Jaffray »

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  • 01

    Feb

OBE

Obsidian Energy

$1.21

-0.03 (-2.42%)

17:36
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SN

Sanchez Energy

$5.81

0.16 (2.83%)

17:33
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  • 15

    May

NTDOY

Nintendo

$51.53

1.55 (3.10%)

17:32
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Nintendo announces Nintendo Labo accessories for Switch consoles »

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  • 17

    Jan

PTC

PTC

$66.70

1.41 (2.16%)

, ESIO

Electro Scientific

$22.01

1.91 (9.50%)

17:28
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01/17
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17:28
Hot Stocks
On The Fly: After Hours Movers »

UP AFTER EARNINGS: PTC…

PTC

PTC

$66.70

1.41 (2.16%)

ESIO

Electro Scientific

$22.01

1.91 (9.50%)

NEOT

Neothetics

$1.92

0.0793 (4.31%)

PLXS

Plexus

$64.36

0.59 (0.93%)

AA

Alcoa

$56.99

0.75 (1.33%)

SLM

Sallie Mae

$11.49

0.02 (0.17%)

ARWR

Arrowhead

$5.72

0.12 (2.14%)

PRTK

Paratek Pharmaceuticals

$17.68

-0.075 (-0.42%)

IIPR

Innovative Industrial Properties

$31.30

-2.49 (-7.37%)

ECC

Eagle Point Credit

$19.13

-0.39 (-2.00%)

AGIO

Agios Pharmaceuticals

$70.33

1.53 (2.22%)

03/08/13
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  • 17

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    Feb

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    Jan

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    Jan

  • 19

    Jan

BTU

Peabody Energy

$40.00

0.42 (1.06%)

17:17
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Breaking Hot Stocks news story on Peabody Energy »

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  • 07

    Feb

MLNX

Mellanox

$64.30

-0.45 (-0.69%)

17:12
01/17/18
01/17
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Hot Stocks
Starboard to nominate nine directors for election at Mellanox »

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  • 18

    Jan

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