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AXTA

Axalta Coating

, 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

AKZOY

AkzoNobel

$31.50

0.04 (0.13%)

PPG

PPG

  • 19

    Apr

  • 02

    May

AXTA Axalta Coating

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.
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
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.
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.
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."
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
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.
PPG PPG

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.
03/27/18
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.
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.

TODAY'S FREE FLY STORIES

FSUMY

Fortescue Metal

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SANM

Sanmina

$27.70

0.1 (0.36%)

, CDNS

Cadence Design

$36.75

-0.27 (-0.73%)

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TD Ameritrade

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TVTY

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$39.50

-0.6 (-1.50%)

BRO

Brown & Brown

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0.6 (2.31%)

ABX

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$12.93

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OI

Owens-Illinois

$21.76

0.13 (0.60%)

EPZM

Epizyme

$15.25

-0.65 (-4.09%)

AGO

Assured Guaranty

$35.90

-0.81 (-2.21%)

CASA

Casa Systems

$29.81

-0.35 (-1.16%)

BBBY

Bed Bath & Beyond

$17.35

0.22 (1.28%)

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  • 12

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  • 26

    Apr

UAL

United Continental

$70.32

-1.405 (-1.96%)

18:45
04/23/18
04/23
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18:45
Periodicals
United Continental CEO to forego 2017 bonus, Bloomberg reports »

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  • 26

    Jun

UAL

United Continental

$70.32

-1.405 (-1.96%)

18:37
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United Continental chairman Milton will not stand for reelection »

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  • 26

    Jun

INFY

Infosys

$17.43

0.05 (0.29%)

18:12
04/23/18
04/23
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Hot Stocks
Infosys sees FY18 revenue growth trending at 7.2% rate »

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  • 23

    Apr

SFNC

Simmons First National

$28.95

0.2 (0.70%)

18:04
04/23/18
04/23
18:04
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18:04
Earnings
Simmons First National reports Q1 core EPS 57c, consensus 52c »

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  • 24

    Apr

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  • 24

    Sep

HLX

Helix Energy

$6.24

-0.245 (-3.78%)

18:01
04/23/18
04/23
18:01
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18:01
Earnings
Helix Energy reports Q1 EPS (2c), consensus (6c) »

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  • 24

    Apr

GLRE

Greenlight Capital Re

, AGO

Assured Guaranty

$35.90

-0.81 (-2.21%)

17:50
04/23/18
04/23
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17:50
Hot Stocks
Einhorn says Assured Guaranty has a lot of exposure to Puerto Rico »

Says Assured…

GLRE

Greenlight Capital Re

AGO

Assured Guaranty

$35.90

-0.81 (-2.21%)

03/08/13
Wedge Partners
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03/06/13
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03/06/13
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  • 01

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  • 04

    May

TVTY

Tivity Health

$39.50

-0.6 (-1.50%)

17:45
04/23/18
04/23
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17:45
Hot Stocks
Tivity Health falls 19% after Q1 revenue misses estimates »

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  • 23

    Apr

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    Jun

TVTY

Tivity Health

$39.50

-0.6 (-1.50%)

17:42
04/23/18
04/23
17:42
04/23/18
17:42
Earnings
Tivity Health affirms FY18 EPS 2.12-$2.20, consensus $2.16 »

Backs FY18 revenue view…

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  • 23

    Apr

  • 12

    Jun

GLRE

Greenlight Capital Re

, AGO

Assured Guaranty

$35.90

-0.81 (-2.21%)

17:42
04/23/18
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Hot Stocks
Greenlight Capital's Einhorn says Assured Guaranty has no room for losses »

Says Assured Guaranty …

GLRE

Greenlight Capital Re

AGO

Assured Guaranty

$35.90

-0.81 (-2.21%)

03/08/13
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  • 01

    May

  • 04

    May

HD

Home Depot

$177.73

0.68 (0.38%)

, LOW

Lowe's

$84.34

0.71 (0.85%)

17:40
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17:40
Initiation
Home Depot, Lowe's, Tractor Supply, O'Reilly Automotive, AutoZone, At Home Group, National Vision initiated  »

Home improvement and…

HD

Home Depot

$177.73

0.68 (0.38%)

LOW

Lowe's

$84.34

0.71 (0.85%)

TSCO

Tractor Supply

$61.64

1.33 (2.21%)

ORLY

O'Reilly Automotive

$222.54

1.06 (0.48%)

AZO

AutoZone

$599.45

3.63 (0.61%)

HOME

At Home Group

$34.69

-0.305 (-0.87%)

EYE

National Vision

$31.57

-0.02 (-0.06%)

03/08/13
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03/06/13
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03/06/13
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  • 26

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WBS

Webster Financial

$59.94

0.555 (0.93%)

17:37
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  • 26

    Apr

SCHW

Charles Schwab

$55.37

0.37 (0.67%)

17:36
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Charles Schwab chairman Charles Schwab sells 250K shares »

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  • 15

    May

NDAQ

Nasdaq

$86.92

-0.52 (-0.59%)

17:36
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Periodicals
Nasdaq proposes to let companies pick where their shares trade, Reuters says »

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  • 24

    Apr

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    Apr

GLRE

Greenlight Capital Re

, AGO

Assured Guaranty

$35.90

-0.81 (-2.21%)

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Greenlight Capital's Einhorn says short Assured Guaranty »

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GLRE

Greenlight Capital Re

AGO

Assured Guaranty

$35.90

-0.81 (-2.21%)

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  • 01

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  • 04

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SFE

Safeguard Scientifics

$12.25

-0.25 (-2.00%)

17:32
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Safeguard Scientifics enters agreement with Sierra Capital »

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  • 26

    Apr

EPZM

Epizyme

$15.25

-0.65 (-4.09%)

17:31
04/23/18
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Hot Stocks
Breaking Hot Stocks news story on Epizyme »

Epizyme down 19% after…

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  • 25

    Apr

EROS

Eros International

$11.63

-0.05 (-0.43%)

17:26
04/23/18
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Hot Stocks
Mangrove's August says has questions around Eros' receivables »

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BRO

Brown & Brown

$26.56

0.6 (2.31%)

17:24
04/23/18
04/23
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17:24
Earnings
Brown & Brown reports Q1 adjusted EPS 29c, consensus 32c »

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  • 24

    Apr

CODA

Coda Octopus Group

$4.07

0.12 (3.04%)

17:23
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04/23
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17:23
Syndicate
Breaking Syndicate news story on Coda Octopus Group  »

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SUI

Sun Communities

$91.54

0.25 (0.27%)

17:19
04/23/18
04/23
17:19
04/23/18
17:19
Earnings
Sun Communities reports Q1 EPS 38c, consensus 28c »

Reports Q1 revenue…

03/08/13
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  • 24

    Apr

EROS

Eros International

$11.63

-0.05 (-0.43%)

17:17
04/23/18
04/23
17:17
04/23/18
17:17
Hot Stocks
Mangrove's August says short Eros International »

Nathaniel August, founder…

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CASA

Casa Systems

$29.81

-0.35 (-1.16%)

17:16
04/23/18
04/23
17:16
04/23/18
17:16
Syndicate
Casa Systems files to sell 7.35M shares of common stock for holders »

Morgan Stanley & Co.…

03/08/13
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  • 12

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EPZM

Epizyme

$15.25

-0.65 (-4.09%)

17:16
04/23/18
04/23
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17:16
Hot Stocks
Breaking Hot Stocks news story on Epizyme 

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  • 25

    Apr

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