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AXTA

Axalta Coating

$31.73

(0.00%)

, AKZOY

AkzoNobel

$31.50

0.04 (0.13%)

09:43
04/06/18
04/06
09:43
04/06/18
09:43

AkzoNobel exploring deals, averse to foreign takeover, Dealreporter says

AkzoNobel (AKZOY) is exploring several tracks for potential transactions after agreeing to sell its specialty chemicals unit, and sector bankers think a new takeover approach for Akzo from PPG(PPG) or Axalta Coatings (AXTA) seems very likely, but the company remains averse to a foreign takeover, according to Dealreporter, which cites sources.

AXTA

Axalta Coating

$31.73

(0.00%)

AKZOY

AkzoNobel

$31.50

0.04 (0.13%)

PPG

PPG

$111.67

(0.00%)

  • 19

    Apr

  • 02

    May

AXTA Axalta Coating
$31.73

(0.00%)

03/27/18
BMOC
03/27/18
INITIATION
Target $33
BMOC
Market Perform
Axalta Coating initiated with a Market Perform at BMO Capital
BMO Capital analyst John McNulty started Axalta Coating with a Market Perform rating and $33 price target.
01/16/18
BOFA
01/16/18
INITIATION
Target $28
BOFA
Underperform
Axalta Coating resumed with an Underperform at BofA/Merrill
BofA/Merrill analyst Steve Byrne resumed coverage on Axalta Coating with an Underperform and $28 price target following the company's disclosure it is no longer in M&A discussions. The analyst said Axalta shares are trading towards the high-end of its historical range despite negative EBITDA growth in 2017 and only modest expectations for a growth rebound in 2018. Additionally, the firm's automotive team expects a the cyclical downturn in US auto sales to continue and views increasing penetration of collision avoidance technology and autonomous vehicles as a longer-term structural risk to Axalta's refinish business.
01/16/18
01/16/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Axalta Coating (AXTA) resumed with an Underperform at BofA/Merrill. 2. UBS (UBS) and Credit Suisse (CS) were initiated with an Underweight at Barclays. 3. Nutrien (NTR) initiated with a Neutral at Goldman Sachs. 4. Cambrex (CBM) initiated with an Outperform at William Blair. 5. Dicerna (DRNA) initiated with an Outperform at Evercore ISI. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/27/18
SBSH
03/27/18
NO CHANGE
SBSH
Citi says AkzoNobel free to think more strategically about M&A after divestiture
After AkzoNobel (AKZOY) announced the sale of its Specialty Chemicals business to Carlyle Group (CG) and GIC, Citi analyst P.J. Juvekar said the divestiture frees up the company to think more strategically about M&A. Akzo could go after Axalta (AXTA) again, but unless Akzo is prepared to pay a significant premium a deal is unlikely, said Juvekar. He thinks a price in the mid to high $30 range would be needed to get Axalta to the negotiating table. Akzo has thus far resisted a sale to PPG (PPG), but Juvekar thinks PPG would be interested if a deal were to be a friendly one.
AKZOY AkzoNobel
$31.50

0.04 (0.13%)

01/19/18
JPMS
01/19/18
DOWNGRADE
Target $120
JPMS
Neutral
PPG downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Jeffrey Zekauskas downgraded PPG Industries (PPG) to Neutral with an unchanged price target of $120 citing valuation. The analyst no longer believes a merger with AkzoNobel (AKZOY) is likely for 2018 and doesn't find the stock's current free cash flow yield "particularly alluring."
11/30/17
JEFF
11/30/17
NO CHANGE
Target $36
JEFF
Buy
Investors to refocus on Axalta fundamentals after deal talks end, says Jefferies
Jefferies analyst Laurence Alexander said some M&A premium may linger for Axalta Coating but he expects investors to assign a fading M&A view after two deal discussions failed so close together. With merger talks with Nippon Paint ended, he expects investors to shift their focus back to the company's fundamentals, noting also that economic data has improved and the company's pricing initiatives have had time to gain traction since its initial talks with AkzoNobel came to light. Alexander lowered his price target on Axalta to $36 from $38 and keeps a Buy rating on the stock.
12/01/17
DBAB
12/01/17
NO CHANGE
Target $35
DBAB
Buy
Axalta target raised to $35 after failed deals at Deutsche Bank
The failure of Axalta Coating (AXTA) to reach a takeover deal with either Nippon or AkzoNobel (AKZOY) more reflects the situations at the latter two companies than any concerns or issues with the Axalta's coating businesses, Deutsche Bank analyst David Begleiter tells investors in a research note partially titled "Unwanted but Not Unloved." The analyst raised his price target for Axalta shares to $35 from $32, which reflects 11% upside from current levels. He keeps a Buy rating on the name
PPG PPG
$111.67

(0.00%)

03/20/18
DBAB
03/20/18
UPGRADE
Target $130
DBAB
Buy
PPG upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst David Begleiter upgraded PPG Industries to Buy and raised his price target for the shares to $130 from $126. The analyst believes the company's capital deployment and "valuation discount" are attractive.
03/20/18
03/20/18
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. Universal Display (OLED) upgraded to Buy from Hold at Gabelli with analyst Hendi Susanto saying he views the negative market response to a Bloomberg report that Apple (AAPL) is designing and producing MicroLED display prototypes as an overreaction and a buying opportunity. 2. Oneok (OKE) upgraded to Buy from Hold at Jefferies with analyst Christopher Sighinolfi saying he is confident in Oneok's ability to hit target returns on $4.2B of its current projects following a recent meeting with management. 3. PPG (PPG) upgraded to Buy from Hold at Deutsche Bank with analyst David Begleiter saying he believes the company's capital deployment and "valuation discount" are attractive. 4. Roku (ROKU) upgraded to Perform from Underperform at Oppenheimer with analyst Jason Helfstein upgraded Roku (ROKU) to Perform citing valuation and the company's opportunity in virtual multichannel video programming distribution. 5. Arena Pharmaceuticals (ARNA) upgraded to Buy from Hold at Needham with analyst Alan Carr citing the company's "impressive results" from its Phase 2 Ulcerative Colitis study, noting that the the safety and tolerability data components are also "encouraging." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/27/18
BMOC
03/27/18
INITIATION
Target $123
BMOC
Market Perform
PPG initiated with a Market Perform at BMO Capital
BMO Capital analyst John McNulty started PPG Industries with a Market Perform rating and $123 price target.

TODAY'S FREE FLY STORIES

KEG

Key Energy

$8.25

0.02 (0.24%)

06:10
11/20/18
11/20
06:10
11/20/18
06:10
Downgrade
Key Energy rating change  »

Key Energy downgraded to…

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LOW

Lowe's

$91.34

-1.95 (-2.09%)

06:09
11/20/18
11/20
06:09
11/20/18
06:09
Hot Stocks
Lowe's sees 'positive trends' in FY19 »

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  • 20

    Nov

STXB

Spirit of Texas Bancshares

$19.23

-0.66 (-3.32%)

06:08
11/20/18
11/20
06:08
11/20/18
06:08
Initiation
Spirit of Texas Bancshares initiated  »

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LOW

Lowe's

$91.34

-1.95 (-2.09%)

06:07
11/20/18
11/20
06:07
11/20/18
06:07
Hot Stocks
Lowe's to exit Mexico retail operations, exploring strategic alternatives »

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  • 20

    Nov

STKS

One Group Hospitality

$2.77

-0.18 (-6.10%)

06:06
11/20/18
11/20
06:06
11/20/18
06:06
Initiation
One Group Hospitality initiated  »

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  • 06

    Dec

LOW

Lowe's

$91.34

-1.95 (-2.09%)

06:04
11/20/18
11/20
06:04
11/20/18
06:04
Earnings
Lowe's sees FY18 adj. EPS $5.08-$5.13, consensus $5.15 »

Sees FY18 revenue up…

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  • 20

    Nov

CDNS

Cadence Design

$42.78

-2.98 (-6.51%)

, SNPS

Synopsys

$85.72

-4.37 (-4.85%)

06:04
11/20/18
11/20
06:04
11/20/18
06:04
Initiation
Cadence Design, Synopsys initiated  »

Cadence Design initiated…

CDNS

Cadence Design

$42.78

-2.98 (-6.51%)

SNPS

Synopsys

$85.72

-4.37 (-4.85%)

03/08/13
Wedge Partners
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Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 26

    Nov

  • 04

    Dec

  • 05

    Dec

  • 13

    Dec

  • 12

    Mar

KW

Kennedy Wilson

$18.63

-0.2 (-1.06%)

06:03
11/20/18
11/20
06:03
11/20/18
06:03
Hot Stocks
Kennedy Wilson signs two lease deals in Europe with WeWork and ASOS »

Kennedy Wilson has signed…

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LOW

Lowe's

$91.34

-1.95 (-2.09%)

06:02
11/20/18
11/20
06:02
11/20/18
06:02
Earnings
Lowe's reports Q3 adj. EPS $1.04, consensus 98c »

Reports Q3 revenue…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 20

    Nov

SNPS

Synopsys

$85.72

-4.37 (-4.85%)

06:02
11/20/18
11/20
06:02
11/20/18
06:02
Initiation
Synopsys initiated  »

Synopsys initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 05

    Dec

  • 13

    Dec

CYAD

Celyad

$26.97

(0.00%)

06:00
11/20/18
11/20
06:00
11/20/18
06:00
Conference/Events
Celyad management to meet with William Blair »

Meeting to be held in New…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 20

    Nov

  • 22

    Nov

  • 27

    Nov

  • 01

    Dec

  • 03

    Dec

  • 10

    Dec

CSII

Cardiovascular Systems

$28.79

-1.7 (-5.58%)

05:59
11/20/18
11/20
05:59
11/20/18
05:59
Conference/Events
Cardiovascular Systems management to meet with William Blair »

Meeting to be held in New…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 20

    Nov

ACAD

Acadia

$18.14

-0.78 (-4.12%)

, KKR

KKR

$21.08

-0.75 (-3.44%)

05:58
11/20/18
11/20
05:58
11/20/18
05:58
Periodicals
KKR still in talks to buy Acadia Healthcare, NY Post reports »

KKR (KKR) is still deep…

ACAD

Acadia

$18.14

-0.78 (-4.12%)

KKR

KKR

$21.08

-0.75 (-3.44%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
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03/06/13
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MDGL

Madrigal Pharmaceuticals

$120.49

-8.98 (-6.94%)

05:57
11/20/18
11/20
05:57
11/20/18
05:57
Conference/Events
Madrigal Pharmaceuticals management to meet with JMP Securities »

Meeting to be held in New…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 20

    Nov

MCD

McDonald's

$186.69

-0.96 (-0.51%)

05:54
11/20/18
11/20
05:54
11/20/18
05:54
Conference/Events
McDonald's management to meet with MKM Partners »

Meeting to be held in…

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03/06/13
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  • 20

    Nov

KEX

Kirby

$74.67

-1.225 (-1.61%)

05:51
11/20/18
11/20
05:51
11/20/18
05:51
Conference/Events
Kirby management to meet with Seaport Global »

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  • 20

    Nov

EFX

Equifax

$101.75

0.84 (0.83%)

05:50
11/20/18
11/20
05:50
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05:50
Periodicals
Equifax to cut 33 jobs from Garden City office, NY Post reports »

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  • 28

    Nov

IOVA

Iovance Biotherapeutics

$8.90

-0.68 (-7.10%)

05:47
11/20/18
11/20
05:47
11/20/18
05:47
Conference/Events
Iovance Biotherapeutics management to meet with Oppenheimer »

Meeting to be held in…

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03/08/13
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03/06/13
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03/06/13
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  • 20

    Nov

FLWS

1-800-Flowers.com

$12.55

-0.2 (-1.57%)

05:45
11/20/18
11/20
05:45
11/20/18
05:45
Conference/Events
1-800-Flowers.com management to meet with Craig Hallum »

Meeting to be held in…

03/08/13
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03/06/13
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03/06/13
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  • 20

    Nov

BSX

Boston Scientific

$35.29

-1.93 (-5.19%)

05:45
11/20/18
11/20
05:45
11/20/18
05:45
Conference/Events
Boston Scientific to host investor update conference call »

Conference call to…

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  • 20

    Nov

  • 27

    Nov

DHR

Danaher

$101.29

-1.95 (-1.89%)

05:45
11/20/18
11/20
05:45
11/20/18
05:45
Conference/Events
Danaher management to meet with Morgan Stanley »

Meeting to be held in…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 20

    Nov

  • 30

    Nov

  • 13

    Dec

ARRS

Arris

$30.67

0.01 (0.03%)

05:44
11/20/18
11/20
05:44
11/20/18
05:44
Conference/Events
Arris management to meet with Needham »

Meeting to be held in…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 20

    Nov

  • 13

    Dec

COO

Cooper Companies

$256.76

-8.32 (-3.14%)

05:43
11/20/18
11/20
05:43
11/20/18
05:43
Recommendations
Cooper Companies analyst commentary  »

Cooper fundamentals…

03/08/13
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03/06/13
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  • 30

    Nov

  • 06

    Dec

AMP

Ameriprise

$125.95

-0.645 (-0.51%)

05:43
11/20/18
11/20
05:43
11/20/18
05:43
Conference/Events
Ameriprise management to meet with William Blair »

Meeting to be held in New…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 20

    Nov

EPAM

Epam Systems

$120.96

-4.25 (-3.39%)

05:39
11/20/18
11/20
05:39
11/20/18
05:39
Initiation
Epam Systems initiated  »

Epam Systems initiated…

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03/06/13
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03/06/13
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