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XRX

Xerox

$27.85

-0.53 (-1.87%)

, APO

Apollo Global

$31.59

0.45 (1.45%)

13:59
05/07/18
05/07
13:59
05/07/18
13:59

Icahn says $40/share or more cash bid for Xerox 'would require consideration'

Carl Icahn and Darwin Deason released an open letter to shareholders of Xerox, which states in part: "We are aware of the market speculation regarding a rival bid by Apollo and we are confident that other potential buyers are waiting in the wings to kick the tires - but we do not see any possibility of an alternative bid materializing unless and until the lame duck board and the lame duck CEO relinquish their death grip on Xerox. To put to rest the speculation regarding our intentions, we are comfortable stating that an all-cash bid at a minimum of $40 per share, would require our serious consideration. However, we also see the possibility of similar or better value in a standalone Xerox with John Visentin at the helm as CEO with the support of a new conflict-free board."

XRX

Xerox

$27.85

-0.53 (-1.87%)

APO

Apollo Global

$31.59

0.45 (1.45%)

XRX Xerox
$27.85

-0.53 (-1.87%)

12/07/17
LOOP
12/07/17
NO CHANGE
Target $38
LOOP
Buy
Xerox offers positive near-term outlook and cost savings, says Loop Capital
Loop Capital analyst Ananda Baruah kept his Buy rating and $38 price target after meeting with management of Xerox yesterday. Baruah says the company continues to offer compelling near-term catalysts, namely a "reasonable December quarter guidance", 4-8 quarter setup with savings not accounted for by consensus, and incremental revenue growth initiatives. The analyst says the stock is valued attractively and should have traded up 5% rather than down 15% after the September quarter results, since it exceeded the Street operations metrics views excluding one-time items.
01/31/18
STPT
01/31/18
DOWNGRADE
STPT
Hold
Xerox downgraded to Hold from Buy at Standpoint Research
Standpoint Research analyst Ronnie Moas downgraded Xerox to Hold, citing the company's deal to merge with the Fuji Xerox joint venture.
02/05/18
UBSW
02/05/18
UPGRADE
Target $38
UBSW
Buy
Xerox upgraded to Buy from Neutral at UBS
UBS analyst Steven Milunovich upgraded Xerox to Buy and raised his price target for the shares to $38 from $34.50. The analyst is positive on "deal optionality" from the Fuji Xerox merger and notes the company's fundamentals are improved following the Q4 results. The market is underappreciating "upside optionality" from Fuji Xerox deal, according to which shareholders would receive $9.80 per share in cash and 50% of the new Fuji Xerox, Milunovich tells investors in a research note. His post-deal theoretical valuation for Xerox is $40 per share.
02/12/18
UBSW
02/12/18
NO CHANGE
Target $38
UBSW
Buy
UBS confident in potential deal between Xerox and Fujifilm
UBS analyst Steven Milunovich met with Xerox (XRX) management to discuss its potential deal with Fujifilm (FUJIY) and came away confident both were on the same page, that Jacobson is a good CEO choice to implement tough decisions, and that synergies will be achievable. Milunovich has a Buy rating and $38 price target on Xerox shares.
APO Apollo Global
$31.59

0.45 (1.45%)

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.
03/12/18
SBSH
03/12/18
UPGRADE
Target $40
SBSH
Buy
Apollo Global upgraded to Buy from Neutral at Citi
Citi analyst William Katz upgraded Apollo Global Management to Buy while trimming his price target for the shares to $40 from $41.50.
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.
04/17/18
RILY
04/17/18
NO CHANGE
RILY
Bluegreen , BBX Capital could be targets after ILG, says B. Riley FBR
B. Riley FBR analyst Mike Crawford says Apollo Global (APO) "could turn its eye toward" Bluegreen Vacations (BXG) or BBX Capital (BBX) itself with Bluegreen comp ILG (ILG) reportedly nearing a deal to be acquired by Marriott Vacations (VAC). The analyst has a Buy rating on BBX Capital, which owns 90% of Bluegreen Vacations, with a $14.50 price target.

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PYPL

PayPal

$77.22

-1.8 (-2.28%)

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ALRM

Alarm.com

$44.50

0.16 (0.36%)

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SGBAF

SES S.A.

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JNJ

Johnson & Johnson

$133.75

-0.03 (-0.02%)

, UNH

UnitedHealth

$259.80

0.36 (0.14%)

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JNJ

Johnson & Johnson

$133.75

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UNH

UnitedHealth

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GS

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1.37 (0.64%)

MS

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BLK

BlackRock

$427.40

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PLD

Prologis

$63.00

0.45 (0.72%)

PGR

Progressive

$66.23

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GWW

Grainger

$318.38

6.75 (2.17%)

OMC

Omnicom

$69.48

0.8 (1.16%)

CMA

Comerica

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JBHT

J.B. Hunt

$111.78

2.52 (2.31%)

DPZ

Domino's Pizza

$273.13

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FHN

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TWLO

Twilio

$76.26

1.27 (1.69%)

, SEND

SendGrid

$30.94

0.04 (0.13%)

20:13
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Recommendations
Twilio, SendGrid analyst commentary  »

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TWLO

Twilio

$76.26

1.27 (1.69%)

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$30.94

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PANW

Palo Alto Networks

$209.49

-2.51 (-1.18%)

20:07
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SVA

Sinovac Biotech

$7.16

-0.03 (-0.42%)

20:03
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NWN

Northwest Natural Gas

$67.70

0.36 (0.53%)

20:01
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VFC

VF Corp.

$87.65

0.11 (0.13%)

19:53
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LVS

Las Vegas Sands

$55.84

-0.32 (-0.57%)

19:39
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OXY

Occidental Petroleum

$72.24

-4.69 (-6.10%)

19:37
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Occidental Petroleum analyst commentary  »

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  • 06

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AVMXY

Avita Medical

$0.00

(0.00%)

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FB

Facebook

$153.56

-0.2 (-0.13%)

19:16
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JBHT

J.B. Hunt

$111.78

2.52 (2.31%)

, SEND

SendGrid

$30.94

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J.B. Hunt

$111.78

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TWLO

Twilio

$76.26

1.27 (1.69%)

HQCL

Hanwah Q Cells

$8.20

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ADBE

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CRY

CryoLife

$30.64

0.42 (1.39%)

TRQ

Turquoise Hill

$1.96

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JELD

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TTOO

T2 Biosystems

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ACRS

Aclaris Therapeutics

$13.38

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AGN

Allergan

$183.03

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PANW

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$209.49

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SNAP

Snap

$7.41

0.225 (3.13%)

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SHLD

Sears

$0.31

-0.0901 (-22.52%)

18:43
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WAB

Wabtec

$97.03

1.63 (1.71%)

18:38
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TGE

Tallgrass Energy

$23.73

0.17 (0.72%)

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DIS

Disney

$113.47

0.86 (0.76%)

, GOOG

Alphabet

$1,092.00

-18.93 (-1.70%)

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DIS

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GOOG

Alphabet

$1,092.00

-18.93 (-1.70%)

GOOGL

Alphabet Class A

$1,101.58

-19.41 (-1.73%)

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HMC

Honda

$27.05

-0.16 (-0.59%)

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  • 24

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MSFT

Microsoft

$107.60

-1.94 (-1.77%)

18:15
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OII

Oceaneering

$25.69

0.4 (1.58%)

18:15
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JOE

Saint Joe Co.

$15.28

0.01 (0.07%)

18:07
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Hot Stocks
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PBR

Petrobras

$15.41

0.055 (0.36%)

18:05
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Periodicals
Petrobras anticipates reviving TAG sale over next month, Reuters says »

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ADBE

Adobe

$238.05

-10.84 (-4.36%)

18:02
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  • 15

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GOOG

Alphabet

$1,092.00

-18.93 (-1.70%)

, GOOGL

Alphabet Class A

$1,101.58

-19.41 (-1.73%)

18:02
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Periodicals
Google's Greene will not attend Saudi Aarabia summit, Bloomberg says »

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GOOG

Alphabet

$1,092.00

-18.93 (-1.70%)

GOOGL

Alphabet Class A

$1,101.58

-19.41 (-1.73%)

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