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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
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
$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.
03/27/18
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

LYV

Live Nation

$48.15

-0.53 (-1.09%)

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XLE

Energy Select Sector SPDR

$72.63

0.21 (0.29%)

, XLU

Utilities SPDR

$54.50

0.25 (0.46%)

17:40
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General news
Week ending ETF Scorecard: Consumer Staples outperforms, Energy skids »

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XLE

Energy Select Sector SPDR

$72.63

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XLU

Utilities SPDR

$54.50

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IYR

DJ US Real Estate Index Fund

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XLP

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$55.02

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XLY

Consumer Discretionary Sector SPDR

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XLB

S&P Select Materials SPDR

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XLF

Financial Select Sector

$28.16

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XLV

Health Care Select Sector SPDR

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Technology Select Sector SPDR

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Industrial Select Sector SPDR

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GLD

SPDR Gold Trust

$112.12

1.01 (0.91%)

SLV

iShares Silver Trust

$13.93

0.16 (1.16%)

USO

United States Oil Fund

$13.70

0.065 (0.48%)

UNG

United States Natural Gas Fund

$24.18

0.295 (1.24%)

HYG

iShares iBoxx $ High Yield Corporate Bond

$86.03

0.08 (0.09%)

LQD

iShares iBoxx $ Investment Grade Corporate Bond

$115.97

0.11 (0.09%)

TLT

iShares 20+ Year Treasury Bond Fund

$120.99

0.16 (0.13%)

IEF

iShares 7-10 Year Treasury Bond ETF

$102.49

0.04 (0.04%)

SHY

iShares 1-3 Year Treasury Bond

$83.28

0.03 (0.04%)

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iShares Russell 1000 Value

$126.16

0.6 (0.48%)

IWF

iShares Russell 1000 Growth

$150.80

0.27 (0.18%)

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GLD

SPDR Gold Trust

$112.12

1.01 (0.91%)

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GDOT

Green Dot

$85.04

0.37 (0.44%)

17:30
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Green Dot exec Dent sells 7,754 common shares »

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  • 25

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SMSI

Smith Micro

$2.49

-0.01 (-0.40%)

17:17
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Syndicate
Breaking Syndicate news story on Smith Micro »

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NDRA

ENDRA Life Sciences

$2.70

0.2 (8.00%)

17:14
08/17/18
08/17
17:14
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17:14
Syndicate
Breaking Syndicate news story on ENDRA Life Sciences »

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BA

Boeing

$346.44

0.55 (0.16%)

17:10
08/17/18
08/17
17:10
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Hot Stocks
Boeing awarded $152.5M U.S. Navy contract »

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BA

Boeing

$346.44

0.55 (0.16%)

17:09
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08/17
17:09
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Hot Stocks
Boeing awarded $217M Defense Department contract »

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LLL

L3 Technologies

$210.37

0.56 (0.27%)

17:08
08/17/18
08/17
17:08
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17:08
Hot Stocks
L3 Technologies awarded $240M Defense Department contract »

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HSGX

Histogenics

$2.65

-0.05 (-1.85%)

17:06
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08/17
17:06
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17:06
Syndicate
Breaking Syndicate news story on Histogenics »

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PLD

Prologis

$67.45

1.79 (2.73%)

, DCT

DCT Industrial

$68.77

1.805 (2.70%)

16:58
08/17/18
08/17
16:58
08/17/18
16:58
Conference/Events
DCT Industrial to host special shareholder meeting »

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PLD

Prologis

$67.45

1.79 (2.73%)

DCT

DCT Industrial

$68.77

1.805 (2.70%)

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WLK

Westlake Chemical

$95.61

-1.33 (-1.37%)

16:56
08/17/18
08/17
16:56
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16:56
Hot Stocks
Westlake Chemical expands share repurchase program by $150M »

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  • 05

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SM

SM Energy

$27.38

0.17 (0.62%)

16:55
08/17/18
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16:55
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Recommendations
SM Energy analyst commentary at MUFG »

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  • 19

    Aug

PENN

Penn National

$33.04

0.86 (2.67%)

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Penn National CEO acquires 100,000 common shares »

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FB

Facebook

$173.78

-0.98 (-0.56%)

16:49
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Periodicals
U.S. wants Facebook to help wiretap Messenger for criminal probe, Reuters says »

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  • 21

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WLK

Westlake Chemical

$95.61

-1.33 (-1.37%)

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  • 05

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EAST

Eastside Distilling

$7.40

-0.01 (-0.13%)

16:45
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Breaking Syndicate news story on Eastside Distilling »

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LOV

Spark Networks

$12.80

-0.095 (-0.74%)

16:44
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Syndicate
Spark Networks files to sell 515,416 ordinary shares for holders »

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AHPA

Avista Healthcare Public Acquisition Corp.

$10.12

(0.00%)

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Avista Healthcare Public Acquisition Corp., Organogenesis announce combination »

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TCF

TCF Financial

$25.84

0.17 (0.66%)

16:41
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Hot Stocks
TCF Financial COO sells 77,725 common shares »

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LGF.A

Lionsgate

$22.95

-0.11 (-0.48%)

16:38
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Recommendations
Lionsgate analyst commentary at Barrington »

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  • 11

    Sep

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General news
Breaking General news story  »

Moody's cuts Turkey…

MSL

MidSouth Bancorp

$14.90

0.1 (0.68%)

16:32
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EME

EMCOR

$77.96

1.005 (1.31%)

16:31
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Emcor CEO sells 23,434 common shares »

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16:30
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Options
Preliminary option volume of 22.3M today »

Preliminary option volume…

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