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QCOM

Qualcomm

$55.20

0.19 (0.35%)

, NXPI

NXP Semiconductors

$114.17

-1.71 (-1.48%)

10:18
04/13/18
04/13
10:18
04/13/18
10:18

China's delay could imperil Qualcomm, Toshiba deals, WSJ says

China is holding up deal reviews amid escalating trade tensions with the U.S., which could endanger Qualcomm's (QCOM) planned acquisition of NXP Semiconductors (NXPI), according to one person familiar with the matter, said The Wall Street Journal. China is the only country that has not yet signed off on Qualcomm's deal, nor on Toshiba's (TOSBF) planned sale of its chip unit to a consortium led by Bain Capital, and neither deal is likely to move forward amid the looming trade war, the report said. Reference Link

QCOM

Qualcomm

$55.20

0.19 (0.35%)

NXPI

NXP Semiconductors

$114.17

-1.71 (-1.48%)

TOSBF

Toshiba, also use TOSYY

$2.75

0.0296 (1.09%)

TOSYY

Toshiba, also use TOSBF

$16.23

-0.14 (-0.86%)

QCOM Qualcomm
$55.20

0.19 (0.35%)

04/12/18
SBSH
04/12/18
INITIATION
Target $127.5
SBSH
Neutral
NXP Semiconductors resumed with a Neutral at Citi
Citi analyst Christopher Danely resumed coverage of NXP Semiconductors (NXPI) with a Neutral rating and $127.50 price target. The analyst expects Qualcomm (QCOM) to close the acquisition of NXP at the current proposed price of $127.50 per share. He believes, however, that there is "some potential for the deal to break due to approval from China given the trade war." If the deal falls apart, Danely expects NXP shares to trade to $90.
04/05/18
04/05/18
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. Spotify (SPOT) initiated with a Buy at Canaccord and Stifel. 2. Trade Desk (TTD) initiated with an Overweight at Piper Jaffray. 3. Saul Centers (BFS) initiated with a Neutral at B. Riley FBR. 4. Capital One (COF) and American Express (AXP) were initiated with a Buy at Citi while Discover (DFS) and Synchrony (SYF) were initiated with a Neutral. 5. Intel (INTC) initiated with a Buy at UBS while Qualcomm (QCOM) was initiated with a Neutral. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/05/18
UBSW
04/05/18
INITIATION
Target $56
UBSW
Neutral
Qualcomm initiated with a Neutral at UBS
UBS analyst Timothy Arcuri started Qualcomm with a Neutral rating and $56 price target, calling it a "show-me story."
04/12/18
SBSH
04/12/18
INITIATION
Target $58
SBSH
Neutral
Qualcomm resumed with a Neutral at Citi
Citi analyst Christopher Danely resumed coverage of Qualcomm (QCOM) with a Neutral rating and $58 price target. The analyst believes the proposed acquisition of NXP Semiconductors (NXPI) could eventually drive earnings accretion of roughly 44% or $1.52, but he does not have confidence in the $500M in synergies. Danely expects a host of integration difficulties given differences in manufacturing, customer base, and NXP's merger with Freescale.
NXPI NXP Semiconductors
$114.17

-1.71 (-1.48%)

03/19/18
MSCO
03/19/18
INITIATION
Target $127.5
MSCO
Equal Weight
NXP Semiconductors reinitiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Craig Hettenbach resumed coverage on NXP Semiconductors (NXPI) with an Equal Weight and $127.50 price target.
03/15/18
DBAB
03/15/18
INITIATION
Target $60
DBAB
Hold
Qualcomm resumed with a Hold at Deutsche Bank
Deutsche Bank analyst Ross Seymore resumed coverage of Qualcomm (QCOM) with a Hold rating and $60 price target. The analyst expects the shares to remain range-bound given the slowing pace of smartphone growth, potential for share loss in QCT, and ongoing litigation pressuring the QTL business. He sees these partially offset by accretion from the acquisition of NXP Semiconductors (NXPI).
TOSBF Toshiba, also use TOSYY
$2.75

0.0296 (1.09%)

01/05/18
FBCO
01/05/18
NO CHANGE
Target $42
FBCO
Outperform
Brookfield Business Partners price target raised to $42 from $34 at Credit Suisse
Credit Suisse analyst Nick Stogdill noted that Brookfield Business Partners (BBU) and its institutional partners will acquire 100% of Westinghouse Electric from Toshiba (TOSBF) for $4.6B, which he views as positive news from both a strategic and financial perspective. The analyst, who increased his 2018 EPS estimate 11% to $3.15 to reflect the deal, keeps an Outperform rating on Brookfield Business Partners and raised his price target on the stock to $42.
01/09/18
RBCM
01/09/18
NO CHANGE
Target $48
RBCM
Sector Perform
Seagate price target raised to $48 from $43 at RBC Capital
RBC Capital analyst Amit Daryanani raised his price target on Seagate (STX) to $48 after the company's positive December-quarter pre-announcement and its long-term NAND supply agreement with Toshiba (TOSBF). Daryanani says the discussion around EB shipments and capacity-per-drive metrics suggests that the company is gaining share in the 10TB market. The analyst keeps his Sector Perform rating on Seagate, noting he is "cognizant" of the company's near-term tailwinds.
02/20/18
RBCM
02/20/18
NO CHANGE
Target $115
RBCM
Outperform
Western Digital may be an LBO candidate, says RBC Capital
RBC Capital analyst Amit Daryanani contends that Western Digital (WDC) could be an attractive LBO candidate, considering that the stock has languished at an "attractive valuation" since the Toshiba (TOSBF) resolution on misplaced NAND cycle concerns. The analyst also notes that the likelihood of an LBO is high because of several private equity firms' involvement in the Toshiba asset sale. Daryanani keeps his Outperform rating with a $115 price target, adding that a "sizable potential EPS upside and room for multiple expansion remain" for the stock.
03/13/18
KEYB
03/13/18
NO CHANGE
KEYB
Broadcom could look at Micron next with Qualcomm blocked, says KeyBanc
President Trump's order to block Broadcom's (AVGO) proposed takeover of Qualcomm (QCOM) also likely blocks the possibility of the company trying to acquire any other player with any military/defense exposure, such as Xilinx (XLNX), KeyBanc analyst John Vinh tells investors. However, he expects Broadcom to remain acquisitive and thinks Micron (MU) could be another potential target, citing a lack of security concerns and Broadcom's previous attempts to bid for Toshiba (TOSBF), he noted. Vinh reiterates his Overweight rating and $320 price target on Broadcom, adding that he sees the executive order as a "slight positive," since it removes a near-term distraction and overhang.
TOSYY Toshiba, also use TOSBF
$16.23

-0.14 (-0.86%)

12/13/17
DBAB
12/13/17
UPGRADE
DBAB
Buy
Toshiba upgraded to Buy from Hold at Deutsche Bank

TODAY'S FREE FLY STORIES

BAC

Bank of America

$28.54

-0.24 (-0.83%)

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USO

United States Oil Fund

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IIIV

i3 Verticals

$16.73

-0.025 (-0.15%)

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Initiation
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KRYS

Krystal Biotech

$17.14

0.08 (0.47%)

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XOP

SPDR Oil Exploration and Production Fund

$43.19

0.06 (0.14%)

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BAC

Bank of America

$28.54

-0.24 (-0.83%)

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DGAZ

VelocityShares 3x Inv Natural Gas ETN

$26.43

0.89 (3.48%)

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NBIX

Neurocrine

$102.95

0.17 (0.17%)

, TEVA

Teva

$23.29

-0.45 (-1.90%)

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$102.95

0.17 (0.17%)

TEVA

Teva

$23.29

-0.45 (-1.90%)

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UGAZ

VelocityShares 3x Long Natural Gas ETN

$54.61

-2.06 (-3.64%)

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BAC

Bank of America

$28.54

-0.24 (-0.83%)

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Bank of America reports Q2 NII up 6% to $11.7B »

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  • 16

    Jul

ERJ

Embraer

$21.50

-0.78 (-3.50%)

06:49
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Periodicals
Embraer sees demand for 10,550 smaller jets in next 20 years, Reuters reports »

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  • 16

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EPRT

Essential Properties Realty Trust

$14.00

(0.00%)

06:49
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Initiation
Essential Properties Realty Trust initiated  »

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EWZ

MSCI Brazil Index

$34.05

0.67 (2.01%)

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Technical Analysis
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VNTR

Venator Materials

$16.76

0.07 (0.42%)

, TROX

Tronox

$19.31

-0.28 (-1.43%)

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VNTR

Venator Materials

$16.76

0.07 (0.42%)

TROX

Tronox

$19.31

-0.28 (-1.43%)

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  • 31

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PSA

Public Storage

$228.07

-1.43 (-0.62%)

06:48
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  • 02

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EFA

iShares MSCI EAFE Index Fund

$67.80

0.21 (0.31%)

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BAC

Bank of America

$28.54

-0.24 (-0.83%)

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  • 16

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BRO

Brown & Brown

$28.76

0.025 (0.09%)

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  • 24

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JNK

SPDR Barclays High Yield Bond

$35.69

(0.00%)

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ITCI

Intra-Cellular

$20.45

-0.11 (-0.54%)

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Conference/Events
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  • 18

    Jul

SJB

ProShares Short High Yield

$22.95

-0.055 (-0.24%)

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OSUR

OraSure

$17.32

0.01 (0.06%)

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  • 18

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NEP

NextEra Energy Partners

$45.91

-0.51 (-1.10%)

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  • 25

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HYG

iShares iBoxx $ High Yield Corporate Bond

$85.63

0.005 (0.01%)

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BAC

Bank of America

$28.54

-0.24 (-0.83%)

06:46
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Earnings
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