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WFT

Weatherford

$2.67

-0.19 (-6.64%)

, BP

BP

$39.69

-0.18 (-0.45%)

10:19
02/13/18
02/13
10:19
02/13/18
10:19

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Weatherford (WFT) downgraded to Equal Weight from Overweight at Barclays with analyst J. David Anderson saying there is only so much new CEO Mark McCollum can do given the company's $7.1B of net debt and the "low hanging cost opportunities already picked" in the third year of a "turnaround." 2. BP (BP) downgraded to Equal Weight from Overweight at Morgan Stanley. 3. Eversource (ES) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Stephen Byrd citing a New Hampshire state committee denial of the company's Northern Pass Transmission project. 4. AvalonBay (AVB) downgraded to Neutral on relative market growth at BofA/Merrill with analyst Juan Sanabria saying AvalonBay's core has been disappointing versus peers and sees risks around developments in the current supply environment, specifically in New York City. 5. Validus (VR) downgraded to Neutral from Buy at Buckingham. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

WFT

Weatherford

$2.67

-0.19 (-6.64%)

BP

BP

$39.69

-0.18 (-0.45%)

ES

Eversource

$56.87

-0.66 (-1.15%)

AVB

AvalonBay

$158.83

0.08 (0.05%)

VR

Validus

$67.39

-0.08 (-0.12%)

  • 13

    Feb

  • 26

    Feb

WFT Weatherford
$2.67

-0.19 (-6.64%)

01/16/18
BOFA
01/16/18
UPGRADE
BOFA
Neutral
Weatherford upgraded to Neutral from Underperform at BofA/Merrill
01/16/18
BOFA
01/16/18
UPGRADE
BOFA
Neutral
Weatherford upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill analyst Timna Tanners upgraded Weatherford to Neutral and raised its price target to $5 from $3.50 on expectations for stronger international rig count growth.
02/13/18
LEHM
02/13/18
DOWNGRADE
Target $3.5
LEHM
Equal Weight
Weatherford downgraded to Equal Weight from Overweight at Barclays
Barclays analyst J. David Anderson downgraded Weatherford International to Equal Weight and cut his price target for the shares to $3.50 from $6.00. There is only so much new CEO Mark McCollum can do given the company's $7.1B of net debt and the "low hanging cost opportunities already picked" in the third year of a "turnaround," Anderson tells investors in a research note partially titled "It's Not the Man, It's the Assets." The analyst believes the stock should trade at a "healthy discount to its larger peers" amid heightened execution risk and limited means to de-lever its balance sheet.
02/05/18
TUDR
02/05/18
DOWNGRADE
TUDR
Sell
Weatherford downgraded to Sell from Buy at Tudor Pickering
BP BP
$39.69

-0.18 (-0.45%)

02/13/18
MSCO
02/13/18
DOWNGRADE
MSCO
Equal Weight
BP downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Martijn Rats downgraded BP to Equal Weight and lowered his price target for the shares to GBP 5.50 from GBP 6.45.
02/12/18
SOCG
02/12/18
UPGRADE
SOCG
Buy
BP upgraded to Buy from Hold at Societe Generale
02/12/18
SOCG
02/12/18
UPGRADE
SOCG
Buy
BP upgraded to Buy from Hold at Societe Generale
01/04/18
FBCO
01/04/18
INITIATION
Target $19
FBCO
Neutral
BP Midstream initiated with a Neutral at Credit Suisse
Credit Suisse analyst Kristina Kazarlan initiated BP Midstream Partners (BPMP) with a Neutral rating and a price target of $19. The analyst says the company enjoys little risk to its assets linked to sponsor BP (BP) Whiting refinery, adding that capital markets access will be a bigger story.
ES Eversource
$56.87

-0.66 (-1.15%)

02/13/18
MSCO
02/13/18
DOWNGRADE
MSCO
Equal Weight
Eversource downgraded to Equal Weight from Overweight at Morgan Stanley
02/13/18
02/13/18
DOWNGRADE
Target $60

Equal Weight
Eversource downgraded after Northern Pass denial at Morgan Stanley
As previously reported, Morgan Stanley analyst Stephen Byrd downgraded Eversource Energy to Equal Weight from Overweight after a New Hampshire state committee denied the company's Northern Pass Transmission project. Northern Pass represented about 8% of 2020 EPS, by his estimate, and the company's growth outlook is now much less certain, said Byrd, who lowered his price target on Eversource shares to $60 from $63.
02/02/18
02/02/18
DOWNGRADE
Target $60

Neutral
Eversource downgraded to Neutral after Northern Pass denial at Janney Capital
As previously reported, Janney Capital analyst Michael Gaugler downgraded Eversource to Neutral from Buy after a New Hampshire committee voted against the Northern Pass Transmission project. The news was "extremely disappointing," especially given the lengths Eversource Energy went to gain approval, including additional costs to bury most of the line and significant concessions to various interested parties, said Gaugler. Given the doubt about the project's future, he expects the shares to trade at a discount to the peer group and lowered his fair value estimate on Eversource shares to $60.
02/02/18
FBCO
02/02/18
NO CHANGE
Target $59
FBCO
Underperform
NPT denial raises questions about Eversource growth, says Credit Suisse
Credit Suisse analyst Michael Weinstein noted that a New Hampshire committee unanimously voted to deny the application of Eversource and Hydro-Quebec's Northern Pass Transmission project. Eversource can appeal, but without approvals in New Hampshire, Massachusetts is likely to consider other bidders, said Weinstein, who sees the fight as likely heading to the courts. Weinstein keeps his $59 price target and Underperform rating on Eversource, adding that he sees a possibility for management to reduce its EPS growth projection to 4%-6%.
AVB AvalonBay
$158.83

0.08 (0.05%)

02/13/18
BOFA
02/13/18
UPGRADE
BOFA
Neutral
AvalonBay upgraded to Neutral from Underperform at BofA/Merrill
02/13/18
BOFA
02/13/18
DOWNGRADE
BOFA
Neutral
AvalonBay downgraded to Neutral on relative market growth at BofA/Merrill
As previously reported, BofA/Merrill downgraded AvalonBay Neutral from Buy and cut its price target to $191 from $204. Analyst Juan Sanabria said AvalonBay's core has been disappointing versus peers and sees risks around developments in the current supply environment, specifically in New York City.
02/05/18
RHCO
02/05/18
NO CHANGE
Target $186
RHCO
Buy
AvalonBay price target lowered to $186 from $194 at SunTrust
SunTrust analyst Michael Lewis lowered his price target on AvalonBay to $186, citing higher overhead costs and lower FFO projections. Lewis keeps his Buy rating however, noting that the REIT still trades at a discount to NAV that is deeper than its peers and the revenue growth remains positive.
02/09/18
ZELM
02/09/18
UPGRADE
ZELM
Hold
AvalonBay upgraded to Hold from Sell at Zelman
VR Validus
$67.39

-0.08 (-0.12%)

02/13/18
BUCK
02/13/18
DOWNGRADE
BUCK
Neutral
Validus downgraded to Neutral from Buy at Buckingham
Validus (VR) is being acquired by AIG (AIG) for $68 per share in cash.
01/22/18
WELS
01/22/18
NO CHANGE
WELS
Outperform
Voya has other potential suitors, selloff unwarranted, says Wells Fargo
Wells Fargo analyst Sean Dargan does not think AIG's (AIG) acquisition today of Validus (VR) warrants a selloff in Voya Financial (VOYA) shares. Earlier this month, media reports indicated AIG was in talks to acquire Voya but that the talks broke down in November over price. There are other potential buyers for Voya's "go-forward business mix of investment management, retirement and group benefits," Dargan tells investors in a research note. One potential party that might be interested in Voya is Nippon Life of Japan, who publicly proclaimed a strategy of international acquisitions, the analyst contends. Dargan has an Outperform rating on Voya shares.
01/22/18
KBWI
01/22/18
DOWNGRADE
KBWI
Market Perform
Validus downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette analyst Meyer Shields downgraded Validus (VR) following the takeover by AIG (AIG).
01/30/18
JMPS
01/30/18
DOWNGRADE
JMPS
Market Perform
Validus downgraded to Market Perform from Outperform at JMP Securities
JMP Securities analyst Matthew Carletti downgraded Validus (VR) to Market Perform following the acquisition by AIG (AIG) for $68 per share in cash saying it is a fair price for the company.

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KZIA

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Obsidian Energy

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Obsidian Energy

$0.98

0.0183 (1.91%)

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SSRM

SSR Mining

$8.33

0.06 (0.73%)

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SSRM

SSR Mining

$8.33

0.06 (0.73%)

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IVC

Invacare

$17.97

-0.28 (-1.53%)

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SHCAY

Sharp

$8.21

-0.025 (-0.30%)

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GM

General Motors

$40.91

0.35 (0.86%)

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South Jersey Industries

$26.34

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SJI

South Jersey Industries

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STX

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Western Digital

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HPQ

HP Inc.

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BKD

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PBA

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