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EVHC

Envision Healthcare

$38.23

0.44 (1.16%)

, KKR

KKR

$20.13

0.12 (0.60%)

09:56
04/09/18
04/09
09:56
04/09/18
09:56

Five suitors said to eye Envision as presentations wrap up, Dealreporter says

Envision Healthcare (EVHC), which is understood to have wrapped up management presentations for suitors, is said to be pursued by five groups - KKR (KKR); Blackstone (BX) portfolio company Team Health; CVC Capital paired with Leonard Green; a Hellman & Friedman, Onex and Clayton Dubilier & Rice consortium; and Carlyle Group (CG) partnering with TPG - said Dealreporter, according to contacts.

EVHC

Envision Healthcare

$38.23

0.44 (1.16%)

KKR

KKR

$20.13

0.12 (0.60%)

BX

Blackstone

$31.01

(0.00%)

CG

Carlyle Group

$20.25

-0.65 (-3.11%)

  • 11

    Apr

  • 12

    Apr

  • 19

    Apr

EVHC Envision Healthcare
$38.23

0.44 (1.16%)

03/15/18
JEFF
03/15/18
NO CHANGE
Target $46
JEFF
Buy
Envision selloff yesterday a buying opportunity, says Jefferies
Jefferies analyst Brian Tanquilut views yesterday's selloff in shares of Envision Healthcare (EVHC) following news that UnitedHealth (UNH) dropped out of the bidding process for the company's ASC segment as an overreaction. The analyst continues to believe that the board's strategic review will result in a sale of Envision. He believes yesterday's pullback provides a "compelling entry opportunity." His leveraged buyout analysis says a $50-plus per share takeout is possible. Tanquilut keeps a Buy rating on Envision Healthcare with a $46 price target.
03/07/18
JPMS
03/07/18
NO CHANGE
JPMS
Overweight
Envision leveraged buyout in $40-$50 range still plausible, says JPMorgan
JPMorgan analyst Gary Taylor continue to believe a leveraged buyout of Envision Healthcare (EVHC) in the $40-$50 per share range is plausible. UnitedHealth's (UNH) reported interest in Envision's ambulatory surgery segment is a "potential positive catalyst," Taylor tells investors in a research note. He says this could skew his thinking towards the upper half of the estimated LBO range. The analyst keeps an Overweight rating on Envision shares.
03/07/18
BARD
03/07/18
NO CHANGE
Target $50
BARD
Outperform
Envision Healthcare price target raised to $50 from $45 at Baird
Baird analyst Whit Mayo raised his price target on Envision Healthcare to $50 from $45 as he continues to believe the company will be sold and he believes investors have materially under-estimated the chances of strategic bidders engaging in the sales process. He believes a sale north of $50 is doable. Mayo reiterated his Outperform rating on Envision Healthcare shares.
03/01/18
RHCO
03/01/18
NO CHANGE
Target $45
RHCO
Buy
Envision Healthcare price target raised to $45 from $40 at SunTrust
SunTrust analyst David MacDonald raised his price target on Envision Healthcare to $45, saying the Q4 earnings call was upbeat with a focus on positive underlying trends, operational improvements, and FY18 expectations of transitioning its book of business to in-network. MacDonald keeps his Buy rating on SunTrust.
KKR KKR
$20.13

0.12 (0.60%)

11/28/17
SDLR
11/28/17
INITIATION
Target $21
SDLR
Hold
KKR resumed with a Hold at Sandler ONeill
Sandler O'Neill resumed coverage of KKR with a Hold rating and $21 price target.
01/09/18
GSCO
01/09/18
UPGRADE
Target $29
GSCO
Conviction Buy
KKR upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman Sachs analyst Alexander Blostein upgraded KKR to Conviction Buy and raised his price target for the shares to $29 from $24.50. The analyst sees the "evolution of KKR's business mix" leading to a more stable earnings profile and higher multiple over time. KKR remains the most inexpensive stock among alternative managers, Blostein tells investors in a research note.
01/10/18
FBCO
01/10/18
NO CHANGE
Target $31
FBCO
Outperform
KKR price target raised to $31 from $23 at Credit Suisse
Credit Suisse analyst Craig Siegenthaler raised his price target for KKR to $31 from $23 as he believes the macro backdrop should provide tailwinds for the Alternative Asset Managers while lower corporate tax rate should boost the valuation of their underlying portfolios. The analyst reiterates an Outperform rating on the shares.
01/30/18
MSCO
01/30/18
NO CHANGE
MSCO
Morgan Stanley says Ares may be first, Apollo may gain most from C-corp convert
Morgan Stanley analyst Michael Cyprys said he sees an opportunity for Alternative Asset Managers to unlock value by converting to C-corps, as shifting from a partnership structure could help alleviate some tax reporting complexities and expand the universe of eligible investors. He sees Ares Management (ARES) as possibly the first to convert and expects a potential announcement or indications of management's intentions about a conversion when the company reports earnings on February 15. While Ares may be first, Cyprys sees Apollo Global (APO) as potentially being able to unlock the most value from a conversion, with 26% near-term upside possible if the shares re-rate. He sees a less favorable conversion scenario for asset managers with lower taxes and/or greater exposure to performance fees, including KKR (KKR), Carlyle Group (CG) and Blackstone (BX), Cyprys tells investors.
BX Blackstone
$31.01

(0.00%)

01/31/18
MSCO
01/31/18
NO CHANGE
Target $40
MSCO
Overweight
Blackstone could be next disruptor, says Morgan Stanley
Following Blackstone's (BX) purchase of a 55% stake in Thomson Reuters' Financial and Risk business, Morgan Stanley analyst Michael Cyprys said Blackstone's deal signals the growing value in data and he sees opportunities for the asset manager to enhance its tool kit with big data and AI in order to bring transformational change to companies and industries. With nearly $100B in dry powder on which leverage can be applied, suggesting well over half trillion in spending power, Cyprys sees potential for Blackstone to act as a disruptor, he tells investors. The analyst keeps an Overweight rating and $40 price target on Blackstone shares.
03/20/18
DBAB
03/20/18
NO CHANGE
Target $126
DBAB
Buy
Celanese joint venture termination disappointing, says Deutsche Bank
Deutsche Bank analyst David Begleiter says the termination of Celanese's (CE) proposed acetate tow joint venture with Blackstone (BX) is disappointing, but not surprising. The odds of the combination being approved have been falling since October when the European Commission announced it had opened an in-depth investigation, Begleiter tells investors in a research note. The analyst lowered his price target for Celanese to $126 from $130 and keeps a Buy rating on the shares.
03/20/18
BARD
03/20/18
NO CHANGE
Target $130
BARD
Outperform
Baird reiterates Outperform rating on Celanese after tow JV terminated
Baird analyst Ghansham Panjabi reiterated his Outperform rating on Celanese (CE) following news that the company's joint venture with Blackstone's (BX) Rhodia Acetow business was terminated. In a research note to investors, Panjabi said that while the tow JV termination is "disappointing" and could weigh on shares, his long-term thesis is intact, as this outcome is "not overly surprising" given the extended timeline of the regulatory approvals process with the European Commission. He believes Celanese's management will remain "active" in its efforts to optimize the portfolio. The analyst has a $130 price target on shares.
03/27/18
RAJA
03/27/18
INITIATION
RAJA
Market Perform
Blackstone initiated with a Market Perform at Raymond James
CG Carlyle Group
$20.25

-0.65 (-3.11%)

02/14/18
JEFF
02/14/18
UPGRADE
Target $27
JEFF
Buy
Carlyle Group upgraded to Buy from Hold at Jefferies
Jefferies analyst Gerald E. O'Hara upgraded Carlyle Group to Buy and raised his price target for the shares to $27 from $23. The analyst sees an attractive entry point for the shares with the company at the midway point of a $100B fundraising cycle. He believes Carlyle's net accrued performance fees are poised for continued growth with all main drawdown funds currently in carry contribution.
03/12/18
SBSH
03/12/18
UPGRADE
Target $28.5
SBSH
Buy
Carlyle Group upgraded to Buy from Neutral at Citi
Citi analyst William Katz upgraded Carlyle Group to Buy and raised his price target for the shares to $28.50 from $25. The analyst sees a higher FRE outlook and believes the recent pullback in shares enhances the risk adjusted return.
03/12/18
03/12/18
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. Time Warner (TWX) upgraded to Buy from Neutral at UBS with analyst John Hodulik saying while he expects the takeover by AT&T (T) to receive regulatory approval, he believes the current environment would make Time Warner's assets "highly attractive" to other media companies and Internet-based competitors were the deal to be blocked. 2. Carlyle Group (CG) and Apollo Global (APO) were upgraded to Buy from Neutral at Citi. 3. Merck (MRK) upgraded to Outperform from Market Perform at Leerink with analyst Seamus Fernandez saying Keytruda will continue to dominate the first-line non-small cell lung cancer market. 4. SAP (SAP) upgraded to Outperform from In Line at Evercore ISI with analyst Stewart Materne III saying that he believes the risk/reward is more attractive at current levels following the stock's 6% pullback. 5. Aratana Therapeutics (PETX) upgraded to Buy on valuation at CL King with the firm citing favorable risk/reward. 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
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.

TODAY'S FREE FLY STORIES

IAC

IAC

$180.83

0.23 (0.13%)

13:50
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FLR

Fluor

$46.20

1.49 (3.33%)

13:48
11/15/18
11/15
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13:48
Conference/Events
Fluor to host investor day »

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RCMT

RCM Technologies

$4.03

0.03 (0.75%)

13:48
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11/15
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13:48
Hot Stocks
RCM Technologies announces acquisition of Thermal Kinetics, terms not disclosed »

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RARE

Ultragenyx

$51.33

2.92 (6.03%)

13:45
11/15/18
11/15
13:45
11/15/18
13:45
Conference/Events
Ultragenyx haqs a conference call hosted by JPMorgan »

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VIAB

Viacom

$31.87

0.07 (0.22%)

, VIA

Viacom

$35.23

-0.1 (-0.28%)

13:41
11/15/18
11/15
13:41
11/15/18
13:41
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

VIAB

Viacom

$31.87

0.07 (0.22%)

VIA

Viacom

$35.23

-0.1 (-0.28%)

HP

Helmerich & Payne

$59.45

1.15 (1.97%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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NVDA

Nvidia

$201.85

4.63 (2.35%)

, AMAT

Applied Materials

$34.94

1.35 (4.02%)

13:41
11/15/18
11/15
13:41
11/15/18
13:41
Earnings
Notable companies reporting after market close »

Notable companies…

NVDA

Nvidia

$201.85

4.63 (2.35%)

AMAT

Applied Materials

$34.94

1.35 (4.02%)

POST

Post Holdings

$91.15

-0.43 (-0.47%)

WSM

Williams-Sonoma

$60.67

-1.09 (-1.76%)

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

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  • 15

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    Dec

PPL

PPL Corp.

$30.56

-1.63 (-5.06%)

13:35
11/15/18
11/15
13:35
11/15/18
13:35
Options
PPL Corp. put volume heavy and directionally bearish »

Bearish flow noted in PPL…

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PCG

PG&E

$19.07

-6.59 (-25.68%)

13:32
11/15/18
11/15
13:32
11/15/18
13:32
Recommendations
PG&E analyst commentary  »

PG&E recent weakness…

03/08/13
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MSGN

MSG Networks

$25.48

-0.53 (-2.04%)

13:20
11/15/18
11/15
13:20
11/15/18
13:20
Hot Stocks
MSG Networks announces sponsorship deal for Devils broadcasts with William Hill »

MSG Networks and William…

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03/06/13
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13:20
11/15/18
11/15
13:20
11/15/18
13:20
General news
Atlanta Fed's Q4 GDPNow estimate was trimmed to 2.8% »

Atlanta Fed's Q4…

CVS

CVS Health

$79.23

-0.69 (-0.86%)

, AET

Aetna

$207.58

-0.58 (-0.28%)

13:17
11/15/18
11/15
13:17
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13:17
Hot Stocks
California regulator approves CVS's acquisition of Aetna »

The California Department…

CVS

CVS Health

$79.23

-0.69 (-0.86%)

AET

Aetna

$207.58

-0.58 (-0.28%)

WCG

WellCare

$246.88

-4.14 (-1.65%)

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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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
11/15/18
11/15
13:17
11/15/18
13:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

03/08/13
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03/06/13
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CCO

Clear Channel Outdoor

$5.51

0.19 (3.57%)

, OUT

Outfront Media

$21.01

0.32 (1.55%)

13:16
11/15/18
11/15
13:16
11/15/18
13:16
Periodicals
Clear Channel Outdoor rises after JCDecaux CEO expresses takeover interest »

JCDecaux (JCDXF) CEO…

CCO

Clear Channel Outdoor

$5.51

0.19 (3.57%)

OUT

Outfront Media

$21.01

0.32 (1.55%)

JCDXF

JCDecaux

$0.00

(0.00%)

03/08/13
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03/06/13
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03/06/13
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  • 15

    Nov

$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
11/15/18
11/15
13:16
11/15/18
13:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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13:15
11/15/18
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13:15
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General news
Atlanta Fed dove Bostic wants to "proceed cautiously" »

Atlanta Fed dove Bostic…

FB

Facebook

$142.11

-2.14 (-1.48%)

13:12
11/15/18
11/15
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13:12
Hot Stocks
Facebook comments on progress enforcing community standards »

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  • 28

    Nov

CCO

Clear Channel Outdoor

$5.21

-0.11 (-2.07%)

, OUT

Outfront Media

$20.64

-0.05 (-0.24%)

13:11
11/15/18
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13:11
Periodicals
Breaking Periodicals news story on Clear Channel Outdoor, Outfront Media »

JCDecaux has expressed…

CCO

Clear Channel Outdoor

$5.21

-0.11 (-2.07%)

OUT

Outfront Media

$20.64

-0.05 (-0.24%)

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  • 15

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NICE

Nice Systems

$110.77

0.48 (0.44%)

13:11
11/15/18
11/15
13:11
11/15/18
13:11
Conference/Events
Nice Systems management to meet with Jefferies »

Meeting to be held in…

03/08/13
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  • 16

    Nov

UNIT

Uniti Group

$18.54

-0.68 (-3.54%)

13:10
11/15/18
11/15
13:10
11/15/18
13:10
Options
Second day of put buying in Uniti Group as shares display relative weakness »

Second day of put buying…

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AMRN

Amarin

$18.11

2 (12.41%)

13:05
11/15/18
11/15
13:05
11/15/18
13:05
Options
Amarin call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
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03/06/13
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03/06/13
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RYB

RYB Education

$7.51

-9.3 (-55.32%)

, BEDU

Bright Scholar

$10.34

-2.435 (-19.07%)

13:02
11/15/18
11/15
13:02
11/15/18
13:02
Hot Stocks
RYB, Bright Scholar slide on new Chinese stock policy for private kindergartens »

Shares of RYB Education…

RYB

RYB Education

$7.51

-9.3 (-55.32%)

BEDU

Bright Scholar

$10.34

-2.435 (-19.07%)

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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  • 15

    Nov

  • 16

    Nov

AVEO

Aveo Pharmaceuticals

$1.86

-0.04 (-2.11%)

13:01
11/15/18
11/15
13:01
11/15/18
13:01
Recommendations
Aveo Pharmaceuticals analyst commentary  »

Piper Jaffray sees FDA…

03/08/13
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03/06/13
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  • 27

    Nov

SPI

SPI Energy

$0.26

-0.001 (-0.38%)

13:01
11/15/18
11/15
13:01
11/15/18
13:01
Hot Stocks
SPI Energy announces 10-for-1 share consolidation »

SPI Energy announced a…

03/08/13
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MMYT

MakeMyTrip

$23.74

-0.15 (-0.63%)

13:01
11/15/18
11/15
13:01
11/15/18
13:01
Conference/Events
MakeMyTrip management to meet with Jefferies »

Meeting to be held in…

03/08/13
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03/06/13
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  • 16

    Nov

TSLA

Tesla

$344.69

0.62 (0.18%)

12:57
11/15/18
11/15
12:57
11/15/18
12:57
Hot Stocks
Musk says Tesla acquired trucking capacity to ensure Model 3 delivery by Dec 31 »

Tesla CEO Elon Musk said…

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03/08/13
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03/06/13
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  • 19

    Nov

  • 19

    Nov

  • 13

    Dec

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