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HFC

HollyFrontier

$54.19

-0.38 (-0.70%)

, PSX

Phillips 66

$102.63

0.08 (0.08%)

07:51
04/13/18
04/13
07:51
04/13/18
07:51

HollyFrontier upgraded to Equal Weight at Morgan Stanley

As previously reported, Morgan Stanley analyst Benny Wong upgraded HollyFrontier (HFC) to Equal Weight from Underweight as his updated commodity assumptions, particularly for Midland differential, lifted his 2018 EBITDA estimate 34% above consensus. He raised his price target on HollyFrontier shares to $60 from $48. However, after speaking to Refining & Marketing companies, he is lowering his Q1 EPS estimates for the space by 30%. Wong sees HollyFrontier and Phillips 66 (PSX) as facing the least negative earnings revision risk, while seeing Delek US (DK), PBF Energy (PBF) and Marathon Petroleum (MPC) facing the highest revision risk.

HFC

HollyFrontier

$54.19

-0.38 (-0.70%)

PSX

Phillips 66

$102.63

0.08 (0.08%)

DK

Delek US

$42.64

-1.9 (-4.27%)

PBF

PBF Energy

$35.32

0.26 (0.74%)

MPC

Marathon Petroleum

$74.25

0.23 (0.31%)

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    May

HFC HollyFrontier
$54.19

-0.38 (-0.70%)

01/16/18
MACQ
01/16/18
UPGRADE
Target $49
MACQ
Neutral
HollyFrontier upgraded to Neutral from Underperform at Macquarie
Macquarie analyst Jay Tobin upgraded HollyFrontier to Neutral and raised its price target to $49 from $39 to reflect wider Mid-con and widening crude spreads basis forecasts.
01/24/18
JEFF
01/24/18
INITIATION
Target $40
JEFF
Underperform
HollyFrontier initiated with an Underperform at Jefferies
Jefferies analyst Corey Goldman started HollyFrontier with an Underperform rating and $40 price target. The analyst finds it difficult to justify current valuation metrics and expects tighter crude differentials to weigh on the shares.
04/13/18
MSCO
04/13/18
UPGRADE
MSCO
Equal Weight
HollyFrontier upgraded to Equal Weight from Underweight at Morgan Stanley
03/29/18
ARGS
03/29/18
NO CHANGE
Target $56
ARGS
Buy
HollyFrontier price target raised to $56 at Argus on sustainable oil price gains
Argus analyst Bill Selesky raised his price target on HollyFrontier to $56 from $53, saying the company stands to benefit from oil prices sustaining a $50-$60 per barrel range as well as diminishing inventories of crude oil, gasoline, and diesel products. Selesky further notes HollyFrontier's higher refining margins reported in its most recent quarter from the positive oil market trends. The analyst keeps his Buy rating while also raising his FY18 EPS forecast to $3.66 from $2.65, reflecting improvement "within the company's primary end-markets and expectations for increased pipeline throughput and a continued recovery in refining margins".
PSX Phillips 66
$102.63

0.08 (0.08%)

11/14/17
LEHM
11/14/17
DOWNGRADE
Target $100
LEHM
Underweight
Phillips 66 downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Paul Cheng downgraded Phillips 66 to Underweight while raising his price target for the shares to $100 from $95. The company's diversified business model will likely drive underperformance in a strong margin uptrend environment for U.S. refiners, the analyst contends.
11/14/17
11/14/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. General Electric (GE) downgraded to Sector Perform from Outperform at RBC Capital with analyst Deane Dray saying that he now expects the turnaround at the company to be more protracted than previously anticipated, noting the roadmap laid out by new CEO John Flannery fell short of expectations regarding the scope of the business model/portfolio changes. 2. Phillips 66 (PSX) downgraded to Underweight from Equal Weight at Barclays analyst Paul Cheng saying the company's diversified business model will likely drive underperformance in a strong margin uptrend environment for U.S. refiners. 3. Hilton (HLT) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Stephen Grambling citing the recent outperformance of the stock for the rating change, but he expects consistent double-digit earnings growth on low single-digit RevPAR. 4. PulteGroup (PHM) downgraded to Neutral from Buy at Buckingham with the firm citing recent share strength and raised its price target to $33 from $31. 5. Albemarle (ALB) downgraded to Hold from Buy at Deutsche Bank with analyst David Begleiter downgraded Albemarle (ALB) to Hold from Buy while raising his price target for the shares to $150 from $130. Following a field trip to China, Begleiter believes new lithium processing capacity is coming, which should begin to pressure prices by 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/03/18
FBCO
01/03/18
INITIATION
Target $108
FBCO
Neutral
Phillips 66 initiated with a Neutral at Credit Suisse
Credit Suisse analyst Kristina Kazarian started Phillips 66 with a Neutral rating and $108 price target saying she like its diversification and balanced focus on growth/shareholder returns, but sees limited near-term upside for the stock as she believes short-term headwinds will overshadow long-term secular tailwinds-notably the cash flow inflection as these projects all reach full utilization.
03/14/18
COWN
03/14/18
NO CHANGE
COWN
Tailwinds outstrip headwinds in refining outlook, says Cowen
Cowen analyst Sam Margolin said he has a constructive refining outlook despite the current headwinds that include increased China capacity and a Brent/WTI compression. The analyst said the second half of the year should see those headwinds pass and said outside of global demand growth, MARPOL shipping industry regulations are requiring low sulfur marine fuel worldwide, and U.S. Tier-3 gasoline requirements could result in lower octane supply as a consequence of the de-sulferization processes. Margolin favors Valero (VLO), Phillips 66 (PSX), Delek (DK), Marathon (MPC), and Andeavor (ANDV) in the refining space.
DK Delek US
$42.64

-1.9 (-4.27%)

04/09/18
FBCO
04/09/18
INITIATION
Target $47
FBCO
Outperform
Delek US initiated with an Outperform at Credit Suisse
Credit Suisse analyst Manav Gupta initiated Delek US with an Outperform and $47 price target. Gupta said Delek is most levered to widening Midland-Cushing spread and its integrated nature of operations allows it to source discounted crudes and place refined products in niche markets. Further, Delek's logistics and retail assets diversify earnings streams and lower volatility.
02/14/18
SBSH
02/14/18
UPGRADE
Target $43
SBSH
Buy
Delek US upgraded to Buy from Neutral at Citi
Citi analyst Prashant Rao upgraded Delek US to Buy after taking over coverage of the name. The analyst believes favorable Permian economics will drive "meaningful" free cash flow through 2020. He raised his price target for the shares to $43 from $41.
02/15/18
BOFA
02/15/18
UPGRADE
BOFA
Neutral
Delek US upgraded to Neutral on stabilizing spreads at BofA/Merrill
BofA/Merrill analyst Doug Leggate upgraded Delek US to Neutral from Underperform and increased its price target to $37 to reflect stabilizing spreads, recent asset sales, and share buy backs.
PBF PBF Energy
$35.32

0.26 (0.74%)

04/11/18
04/11/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Avis Budget (CAR) downgraded to Neutral from Buy at Northcoast with analyst John Healy citing valuation. 2. Affiliated Managers (AMG) downgraded to Market Perform at Keefe Bruyette. 3. Valero (VLO) and PBF Energy (PBF) were downgraded to Sector Perform from Outperform at Scotia Howard Weil. 4. Fortinet (FTNT) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Melissa Franchi saying she favors security vendors who are exposed to markets where the cloud drives higher security spending and have optimal business models for the cloud. 5. Mitel (MITL) downgraded to Sector Perform from Outperform at National Bank with the firm citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/11/18
HOWW
04/11/18
DOWNGRADE
HOWW
Sector Perform
PBF Energy downgraded to Sector Perform from Outperform at Scotia Howard Weil
04/09/18
FBCO
04/09/18
INITIATION
Target $37
FBCO
Neutral
PBF Energy initiated with a Neutral at Credit Suisse
Credit Suisse analyst Manav Gupta initiated PBF Energy with a Neutral and $37 price target citing lower shareholder returns versus peers and downward estimate revisions.
02/16/18
COWN
02/16/18
DOWNGRADE
Target $31
COWN
Market Perform
PBF Energy downgraded to Market Perform with $31 target at Cowen
Cowen analyst Sam Margolin downgraded PBF Energy to Market Perform from Outperform while raising his price target for the shares to $31 from $30. The analyst believes most of the company's operational improvements are reflected in the current valuation.
MPC Marathon Petroleum
$74.25

0.23 (0.31%)

02/05/18
02/05/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wells Fargo (WFC) downgraded to Market Perform from Outperform at Keefe Bruyette, to Neutral from Buy at Citi, to Underperform from Outperform at RBC Capital, to Underweight from Neutral at JPMorgan, and two notches to Underweight from Overweight at Morgan Stanley. 2. Dick's Sporting (DKS) downgraded to Underweight from Equal Weight at Barclays with analyst Matthew McClintock saying sentiment on the shares have improved over the past month under the narrative that Dick's could become the next Best Buy (BBY). 3. Amgen (AMGN) downgraded to Neutral from Overweight at Atlantic Equities with analyst Steve Chesney citing relative valuation and more balanced risk/reward on Repatha's commercial trajectory and the of legacy biologics given biosimilar, branded and IP risks. 4. Marathon Petroleum (MPC) and MPLX (MPLX) were downgraded to Hold from Buy at Jefferies. 5. VMware (VMW) downgraded to Neutral from Buy at Citi with analyst Walter Pritchard saying he sees "no easy deal" for Dell and expects the overhang to cap VMware shares around the $138 level. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/13/18
GSCO
02/13/18
UPGRADE
Target $79
GSCO
Buy
Marathon Petroleum upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Neil Mehta upgraded Marathon Petroleum (MPC) to Buy and raised his price target for the shares to $79 from $78. The analyst sees the company benefiting from rising Western Canadian crude spreads. The analyst also raised his coverage view on Refiners to Attractive from Neutral. He views Suncor (SU) as best positioned in the group.
03/15/18
WELS
03/15/18
NO CHANGE
Target $66
WELS
Market Perform
Marathon Petroleum price target lowered to $66 from $72 at Wells Fargo
Wells Fargo analyst Roger Read lowered his price target for Marathon Petroleum to $66 from $72 on valuation. The analyst reiterates a Market Perform rating on the shares.

TODAY'S FREE FLY STORIES

PLT

Plantronics

$76.03

-1.03 (-1.34%)

09:32
07/19/18
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Periodicals
Plantronics mentioned cautiously by Seeking Alpha contributor 

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BGG

Briggs & Stratton

$17.71

0.235 (1.34%)

09:30
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General news
Breaking General news story  »

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SQ

Square

$68.30

-0.02 (-0.03%)

09:29
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FITB

Fifth Third

$30.26

0.75 (2.54%)

09:29
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Fifth Third sees Q3 NIM flat from Q2 »

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  • 19

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BA

Boeing

$360.23

3.28 (0.92%)

09:28
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Hot Stocks
Boeing announces $100B in orders and commitments at Farnborough Airshow »

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  • 25

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PM

Philip Morris

$82.16

-0.17 (-0.21%)

09:27
07/19/18
07/19
09:27
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09:27
Hot Stocks
Breaking Hot Stocks news story on Philip Morris »

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  • 19

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UAL

United Continental

$79.02

6.355 (8.75%)

09:27
07/19/18
07/19
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09:27
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United Continental analyst commentary  »

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PM

Philip Morris

$82.16

-0.17 (-0.21%)

09:27
07/19/18
07/19
09:27
07/19/18
09:27
Earnings
Philip Morris sees Q3 net revenue up about 1% ex-currency, consensus $7.87B »

Sees net revenue decline…

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  • 19

    Jul

PM

Philip Morris

$82.16

-0.17 (-0.21%)

09:25
07/19/18
07/19
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09:25
Hot Stocks
Philip Morris CFO says IQOS tracking below initial expectations for 2018 »

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  • 19

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09:25
07/19/18
07/19
09:25
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09:25
Conference/Events
UBS European oil and gas analyst to hold an analyst/industry conference call »

European Oil & Gas…

TYL

Tyler Technologies

$237.74

0.33 (0.14%)

09:22
07/19/18
07/19
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09:22
Hot Stocks
Tyler Technologies announces agreement with city of Atlanta for EnerGov »

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  • 27

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  • 04

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NCLH

Norwegian Cruise Line

$50.15

2.565 (5.39%)

09:22
07/19/18
07/19
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09:22
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Norwegian Cruise Line analyst commentary  »

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BHLB

Berkshire Hills Bancorp

$40.80

0.15 (0.37%)

09:22
07/19/18
07/19
09:22
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09:22
Upgrade
Berkshire Hills Bancorp rating change  »

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  • 19

    Jul

BPMX

BioPharmX

$0.20

-0.0006 (-0.30%)

09:21
07/19/18
07/19
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09:21
Hot Stocks
BioPharmX granted CARC waiver by FDA for acne candidate BPX-01 »

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09:20
07/19/18
07/19
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09:20
General news
Fed's Quarles said the implementation of SOFR »

Fed's Quarles said…

GWW

Grainger

$338.99

33.78 (11.07%)

09:18
07/19/18
07/19
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Grainger analyst commentary  »

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SPX

S&P 500

$0.00

(0.00%)

, VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

09:18
07/19/18
07/19
09:18
07/19/18
09:18
Options
Overnight activity included 163 trades in SPX and 5 trades in VIX »

163 trades were executed…

SPX

S&P 500

$0.00

(0.00%)

VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

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FITB

Fifth Third

$30.26

0.75 (2.54%)

09:16
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07/19
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09:16
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Fifth Third sees FY18 tax rate 16%-16.5% »

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  • 19

    Jul

VRS

Verso

$21.21

-0.01 (-0.05%)

09:16
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  • 24

    Sep

D

Dominion

$69.96

-0.42 (-0.60%)

, DM

Dominion Midstream

$13.65

-0.05 (-0.36%)

09:15
07/19/18
07/19
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09:15
Hot Stocks
Dominion Midstream jumps after FERC modifies gas pipeline tax law-related rule »

Shares of Dominion Energy…

D

Dominion

$69.96

-0.42 (-0.60%)

DM

Dominion Midstream

$13.65

-0.05 (-0.36%)

AMID

American Midstream Partners

$11.55

1.025 (9.74%)

ANDX

Andeavor Logistics

$43.20

0.99 (2.35%)

AMGP

Antero Midstream GP

$18.67

0.03 (0.16%)

AM

Antero Midstream Partners

$30.84

0.9 (3.01%)

APLP

Archrock Partners LP

$0.00

(0.00%)

BKEP

Blueknight Energy Partners

$3.00

-0.15 (-4.76%)

BWP

Boardwalk Pipeline

$0.00

(0.00%)

BPL

Buckeye Partners

$33.23

-1.725 (-4.94%)

CQP

Cheniere Energy Partners

$36.46

0.71 (1.99%)

CNXM

CNX Midstream Partners

$19.37

0.14 (0.73%)

CEQP

Crestwood Equity

$34.20

0.7 (2.09%)

CCLP

CSI Compressco

$5.57

0.1 (1.83%)

DCP

DCP Midstream

$42.40

0.58 (1.39%)

DKL

Delek Logistics

$28.10

0.2 (0.72%)

ENBL

Enable Midstream

$18.30

0.52 (2.92%)

EEQ

Enbridge Energy Management

$10.12

-0.08 (-0.78%)

EEP

Enbridge Energy

$10.57

-0.1 (-0.94%)

ETP

Energy Transfer Partners

$19.40

0.135 (0.70%)

ETE

Energy Transfer Equity

$17.16

0.07 (0.41%)

ENLC

EnLink Midstream

$15.60

0.3 (1.96%)

ENLK

EnLink Midstream Partners

$15.44

0.52 (3.49%)

EPD

Enterprise Products

$28.65

0.43 (1.52%)

EQM

EQT Midstream Partners

$55.18

1.245 (2.31%)

MMLP

Martin Midstream Partners

$13.50

-0.05 (-0.37%)

MMP

Magellan Midstream

$68.03

0.58 (0.86%)

MPLX

MPLX

$34.85

1.33 (3.97%)

NGL

NGL Energy Partners

$12.60

0.4 (3.28%)

NBLX

Noble Midstream

$51.22

0.13 (0.25%)

NS

NuStar Energy

$24.84

0.4 (1.64%)

SHLX

Shell Midstream

$22.93

0.61 (2.73%)

TEGP

Tallgrass Energy GP

$0.00

(0.00%)

TEP

Tallgrass Energy Partners

$0.00

(0.00%)

TLP

TransMontaigne

$39.66

0.77 (1.98%)

VLP

Valero Energy Partners

$38.91

0.17 (0.44%)

WES

Western Gas Partners

$49.45

0.835 (1.72%)

WPZ

Williams Partners

$41.92

1.35 (3.33%)

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  • 01

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09:15
07/19/18
07/19
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General news
U.S. equities were dented with global stocks »

U.S. equities were dented…

GWW

Grainger

$338.99

33.78 (11.07%)

09:14
07/19/18
07/19
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09:14
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BMTC

Bryn Mawr Bank

$47.20

0.35 (0.75%)

09:13
07/19/18
07/19
09:13
07/19/18
09:13
Hot Stocks
Bryn Mawr Bank raises quarterly dividend 13.6% to 25c per share »

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TMUS

T-Mobile

$60.51

-0.66 (-1.08%)

09:13
07/19/18
07/19
09:13
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09:13
Hot Stocks
T-Mobile launches NB-IoT nationwide »

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  • 09

    Aug

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