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GLNCY

Glencore

$0.00

(0.00%)

, SHLX

Shell Midstream

$23.84

0.19 (0.80%)

07:17
05/17/18
05/17
07:17
05/17/18
07:17

Glencore, Shell and Vitol vying for Petrobras' Nigerian assets, Reuters says

The three largest oil traders, Glencore (GLNCY), Shell Midstream (SHLX) and Vitol, are competing to purchase the African arm of Petrobras (PBR) that owns two Nigerian offshore blocks, according to Reuters, citing industry sources. The three consortiums reportedly submitted bids in May. The Petrobras African venture is estimated to be valued at $2B.Reference Link

GLNCY

Glencore

$0.00

(0.00%)

SHLX

Shell Midstream

$23.84

0.19 (0.80%)

PBR

Petrobras

$17.14

0.28 (1.66%)

GLNCY Glencore
$0.00

(0.00%)

04/30/18
RBCM
04/30/18
DOWNGRADE
RBCM
Outperform
Glencore downgraded to Outperform at RBC Capital on DRC order freeze
As reported earlier, RBC Capital analyst Tyler Broda downgraded Glencore to Outperform from Top Pick and lowered his price target to GBp 410 from GBp 460. Broda notes continued deterioration the company's Democratic Republic of Congo business after it received freezing orders for its Katanga and Mutanda sites late on Friday via a $3B claim from Dan Gertler for not paying royalties. The analyst expects volatility in the stock to remain high but keeps a generally constructive outlook for the company, adding that uncertainty around DRC was already high while the valuation has brought Glencore shares down to level in line with sector peers.
04/04/18
RBCM
04/04/18
UPGRADE
RBCM
Top Pick
Glencore upgraded to Top Pick at RBC Capital
As reported earlier, RBC Capital analyst Tyler Broda upgraded Glencore to Top Pick from Outperform, saying the company's solidified balance sheet and exposure to copper and cobalt should produce a period of outperformance. Broda adds that the underlying valuation on Glencore has retreated further than warranted. The analyst lowers his price target on Glencore to GBp460 from GBp470 however, rolling forward his valuation model to include FY18 EBITDA while also noting the potential sector impact from trade tariffs and "resource nationalism".
04/04/18
RBCM
04/04/18
UPGRADE
RBCM
Top Pick
Glencore upgraded to Top Pick from Outperform at RBC Capital
02/15/18
02/15/18
UPGRADE
Target $90

Overweight
Bunge upgraded on bottoming ag fundamentals, M&A potential at Stephens
As previously reported, Stephens analyst Farha Aslam upgraded Bunge to Overweight from Equal Weight, citing her view that ag fundamentals are now bottoming and its earnings should begin to recover. Also, Bunge has been considered a takeout target, with interest reported from Archer Daniels (ADM) and Glencore (GLNCY), noted Aslam, who believes Bunge could be valued at $90-$95 per share in an M&A situation. The analyst raised her price target on Bunge shares to $90 from $72.
SHLX Shell Midstream
$23.84

0.19 (0.80%)

01/25/18
01/25/18
NO CHANGE

Shell Midstream raises quarterly distribution to 33c per unit
Shell Midstream Partners announces that the board of its general partner declared a cash distribution of 33.3c per limited partner unit for the fourth quarter of 2017. This represents an increase of 4.7 percent over the previous quarterly distribution of 31.8c per unit and a 20 percent increase over the distribution paid with respect to the fourth quarter of 2016. The distribution will be paid February 14, 2018 to unitholders of record as of February 5, 2018.
03/26/18
MZHO
03/26/18
NO CHANGE
MZHO
Mizuho says dropdown MLP model not broken, recommends four names
The dropdown master limited partnership model is not broken following FERC's order to remove the income tax allowance for cost-of-service pipelines, Mizuho analyst Brian Zarahn tells investors in a research note. While structural changes are needed to improve investor sentiment, growth visibility remains from "strong parents," Zarahn adds. He recommends dropdown MLPs focus more on discounted per unit growth, not distribution growth, and reduce equity issuance. The analyst reaffirms Buy ratings on Valero Energy Partners (VLP), Shell Midstream (SHLX), Phillips 66 Partners (PSXP) and BP Midstream (BPMP). He believes all four have "minimal to no expected equity needs in 2018."
05/07/18
RBCM
05/07/18
NO CHANGE
Target $30
RBCM
Outperform
Shell Midstream price target lowered to $30 from $36 at RBC Capital
RBC Capital analyst TJ Schultz lowered his price target on Shell Midstream to $30 after its earnings miss relative to consensus following adjustments for one-time proceeds. The analyst keeps his Outperform rating however, citing a "very visible" growth path for the company and equity raise being out of the way. Schultz also anticipates benefits to come from improving offshore market while also pointing to an "attractive" entry point for the stock.
04/19/18
DBAB
04/19/18
INITIATION
Target $26
DBAB
Buy
Shell Midstream initiated with a Buy at Deutsche Bank
Deutsche Bank started Shell Midstream Partners with a Buy rating and $26 price target.
PBR Petrobras
$17.14

0.28 (1.66%)

05/10/18
BOFA
05/10/18
UPGRADE
BOFA
Buy
Petrobras upgraded to Buy from Neutral at BofA/Merrill
05/09/18
SOCG
05/09/18
UPGRADE
SOCG
Buy
Petrobras upgraded to Buy from Hold at Societe Generale
04/23/18
04/23/18
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. John Bean Technologies (JBT) downgraded to Neutral from Outperform at Baird with analyst Mig Dobre citing valuation. 2. Lululemon (lulu) downgraded to Hold from Buy at Needham with analyst Rick Patel citing valuation and less room for upside given the rising earnings expectations. 3. Petrobras (PBR) downgraded to Underperform from Market Perform at Raymond James with analyst Pavel Molchanov saying shares have recovered back to mid-2014 levels and believes gains will be hard to without an acceleration in growth. 4. HubSpot (HUBS) downgraded to Sector Perform from Outperform at RBC Capital with analyst Ross MacMillan saying he expects the cycle of earnings beats and FY18-guidance raises to continue but at a more moderate pace, citing "lapping comps" within the product cycle, slower growth in the Americas segment, rising competition from Salesforce (CRM) Essentials, the impact of General Data Protection Regulation legislation in the E.U. and above-average valuation. 5. Volaris (VLRS) downgraded to Equal Weight from Overweight at Barclays and to In-Line from Outperform at Imperial Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/10/18
05/10/18
UPGRADE
Target $35

Buy
Petrobras upgraded to Buy on higher oil prices, deleveraging at BofA/Merrill
As previously reported, BofA/Merrill upgraded Peterobras to Buy from Neutral and raised its price target to $35 from $25. Analyst Frank McGann expects higher earnings over the next several years due to a healthy oil price environment. McGann expects net debt/net capital to decline below 40% in the next two years, and a recovery in oil/gas production growth to be a catalyst for value creation.

TODAY'S FREE FLY STORIES

ABT

Abbott

$61.40

-0.71 (-1.14%)

09:02
05/23/18
05/23
09:02
05/23/18
09:02
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Abbott receives FDA approval for XIENCE Sierra »

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JBL

Jabil Circuit

$28.27

0.11 (0.39%)

09:02
05/23/18
05/23
09:02
05/23/18
09:02
Hot Stocks
Jabil expands in Israel with opening of Optics Technology Innovation Center »

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SSNC

SS&C

$49.52

-0.47 (-0.94%)

, CBSH

Commerce Bancshares

$65.50

0.11 (0.17%)

09:01
05/23/18
05/23
09:01
05/23/18
09:01
Hot Stocks
Commerce Bancshares picks SS&C for CECL transition »

SS&C Technologies…

SSNC

SS&C

$49.52

-0.47 (-0.94%)

CBSH

Commerce Bancshares

$65.50

0.11 (0.17%)

03/08/13
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  • 23

    May

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    Jun

AVID

Avid Technology

$5.00

-0.02 (-0.40%)

09:01
05/23/18
05/23
09:01
05/23/18
09:01
Hot Stocks
Avid Technology selected by Seneca College for media facilities upgrade »

Avid announced that…

03/08/13
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VFC

VF Corp.

$80.43

-0.48 (-0.59%)

09:00
05/23/18
05/23
09:00
05/23/18
09:00
Recommendations
VF Corp. analyst commentary  »

VF Corp. removed as…

03/08/13
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03/08/13
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03/06/13
Citigroup
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PFNX

Pfenex

$6.91

-0.05 (-0.72%)

08:59
05/23/18
05/23
08:59
05/23/18
08:59
Syndicate
Pfenex 6.8M share Spot Secondary priced at $5.50 »

Barclays and William…

03/08/13
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03/06/13
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03/06/13
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  • 23

    May

TIF

Tiffany

$102.26

-0.96 (-0.93%)

08:58
05/23/18
05/23
08:58
05/23/18
08:58
Hot Stocks
Tiffany says engagement category is at the core of the company »

Says paper flower…

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  • 23

    May

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    May

  • 26

    Jun

IGT

International Game

$28.47

-1.28 (-4.30%)

08:56
05/23/18
05/23
08:56
05/23/18
08:56
Syndicate
International Game 18M share Secondary priced at $28.25 »

Credit Suisse acted as…

03/08/13
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  • 02

    Aug

  • 23

    May

TSC

TriState Capital

$27.05

0.2 (0.74%)

08:56
05/23/18
05/23
08:56
05/23/18
08:56
Syndicate
TriState Capital 2.2M share Spot Secondary priced at $25.90 »

The deal range was…

03/08/13
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  • 24

    Sep

  • 23

    May

TJX

TJX

$87.50

2.84 (3.35%)

, M

Macy's

$33.12

-1.48 (-4.28%)

08:55
05/23/18
05/23
08:55
05/23/18
08:55
Recommendations
TJX, Macy's, Kohl's, J.C. Penney analyst commentary  »

TJX results 'more…

TJX

TJX

$87.50

2.84 (3.35%)

M

Macy's

$33.12

-1.48 (-4.28%)

KSS

Kohl's

$60.60

-4.87 (-7.44%)

JCP

J.C. Penney

$2.33

-0.175 (-6.99%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 24

    May

MU

Micron

$58.95

3.47 (6.25%)

, BAC

Bank of America

$30.89

0.34 (1.11%)

08:55
05/23/18
05/23
08:55
05/23/18
08:55
Options
Notable open interest changes for May 23rd »

Tuesday's total…

MU

Micron

$58.95

3.47 (6.25%)

BAC

Bank of America

$30.89

0.34 (1.11%)

NXPI

NXP Semiconductors

$115.55

0.84 (0.73%)

CHK

Chesapeake

$4.54

-0.065 (-1.41%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 30

    May

  • 20

    Jun

SLB

Schlumberger

$73.74

-1.28 (-1.71%)

, EOG

EOG Resources

$123.76

-3.69 (-2.90%)

08:55
05/23/18
05/23
08:55
05/23/18
08:55
Conference/Events
UBS to hold a conference »

Global Oil & Gas…

SLB

Schlumberger

$73.74

-1.28 (-1.71%)

EOG

EOG Resources

$123.76

-3.69 (-2.90%)

HP

Helmerich & Payne

$70.74

-1.83 (-2.52%)

RRC

Range Resources

$15.45

-0.63 (-3.92%)

SWN

Southwestern Energy

$4.66

-0.07 (-1.48%)

TDW

Tidewater

$31.48

0.1 (0.32%)

NE

Noble Corp.

$5.86

-0.15 (-2.50%)

HES

Hess Corp.

$63.83

-1.42 (-2.18%)

TUSK

Mammoth Energy

$34.59

-1.27 (-3.54%)

DVN

Devon Energy

$41.82

-0.51 (-1.20%)

ICD

Independence Contract Drilling

$4.89

-0.25 (-4.86%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 23

    May

  • 30

    May

  • 25

    Jun

  • 27

    Jun

  • 20

    Jul

  • 19

    Aug

TMO

Thermo Fisher

$217.88

1.2 (0.55%)

08:55
05/23/18
05/23
08:55
05/23/18
08:55
Conference/Events
Thermo Fisher to host analyst meeting »

Analyst meeting to be…

03/08/13
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03/08/13
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03/06/13
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  • 23

    May

  • 23

    May

CY

Cypress Semiconductor

$16.31

0.2 (1.24%)

08:54
05/23/18
05/23
08:54
05/23/18
08:54
Initiation
Cypress Semiconductor initiated  »

Cypress Semiconductor…

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  • 29

    May

  • 13

    Jun

  • 14

    Jun

TOL

Toll Brothers

$39.46

-4.14 (-9.50%)

08:52
05/23/18
05/23
08:52
05/23/18
08:52
Recommendations
Toll Brothers analyst commentary  »

Toll Brothers price…

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MRVL

Marvell

$21.92

0.5 (2.33%)

08:51
05/23/18
05/23
08:51
05/23/18
08:51
Recommendations
Marvell analyst commentary  »

Marvell April quarter…

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  • 31

    May

IDTI

Integrated Device

$32.49

0.41 (1.28%)

08:50
05/23/18
05/23
08:50
05/23/18
08:50
Initiation
Integrated Device initiated  »

Integrated Device…

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  • 29

    May

TIF

Tiffany

$102.26

-0.96 (-0.93%)

08:49
05/23/18
05/23
08:49
05/23/18
08:49
Hot Stocks
Tiffany says it had success in Japan, Europe »

Says sales rose 18% in…

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  • 23

    May

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AOBC

American Outdoor Brands

$11.75

0.075 (0.64%)

, RGR

Sturm, Ruger

$60.90

0.6 (1.00%)

08:47
05/23/18
05/23
08:47
05/23/18
08:47
Periodicals
Trump admin to publish proposed rule changes for gun exports, Reuters reports »

The Trump administration…

AOBC

American Outdoor Brands

$11.75

0.075 (0.64%)

RGR

Sturm, Ruger

$60.90

0.6 (1.00%)

03/08/13
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UTX

United Technologies

$127.87

-0.18 (-0.14%)

08:46
05/23/18
05/23
08:46
05/23/18
08:46
Hot Stocks
Pratt & Whitney announces up to $100M investment in West Palm Beach facility »

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  • 13

    Jun

KSS

Kohl's

$60.60

-4.87 (-7.44%)

08:46
05/23/18
05/23
08:46
05/23/18
08:46
Recommendations
Kohl's analyst commentary  »

Morgan Stanley says…

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ESPR

Esperion

$39.68

1.78 (4.70%)

08:45
05/23/18
05/23
08:45
05/23/18
08:45
Hot Stocks
Breaking Hot Stocks news story on Esperion 

Esperion trading resumes

03/08/13
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  • 23

    May

DDAIF

Daimler AG

$0.00

(0.00%)

, BMWYY

BMW

$0.00

(0.00%)

08:45
05/23/18
05/23
08:45
05/23/18
08:45
Periodicals
Model 3 sales beat BMW 3-Series, Mercedes C-Class in California, Electrek says »

Tesla's (TSLA) Model…

DDAIF

Daimler AG

$0.00

(0.00%)

BMWYY

BMW

$0.00

(0.00%)

TSLA

Tesla

$275.01

-9.48 (-3.33%)

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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MDR

McDermott

$22.30

-0.25 (-1.11%)

, S

Sprint

$5.18

0.01 (0.19%)

08:45
05/23/18
05/23
08:45
05/23/18
08:45
Options
Largest borrow rate increases among liquid names »

Latest data shows the…

MDR

McDermott

$22.30

-0.25 (-1.11%)

S

Sprint

$5.18

0.01 (0.19%)

BZUN

Baozun

$53.13

0.44 (0.84%)

HYG

iShares iBoxx $ High Yield Corporate Bond

$85.56

0.035 (0.04%)

IQ

iQIYI

$22.51

2.27 (11.22%)

XLU

Utilities SPDR

$49.44

0.2 (0.41%)

03/08/13
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03/06/13
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03/06/13
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  • 10

    Sep

LOW

Lowe's

$85.74

-1.63 (-1.87%)

08:44
05/23/18
05/23
08:44
05/23/18
08:44
Technical Analysis
Technical Take: Lowe's rises after earnings and outlook »

The stock was last up…

03/08/13
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03/06/13
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03/06/13
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  • 23

    May

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