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GM

General Motors

$44.43

0.24 (0.54%)

, F

Ford

$12.02

-0.095 (-0.78%)

06:33
06/14/18
06/14
06:33
06/14/18
06:33

UAW elects new president amid contract talks, federal probe, Reuters reports

United Auto Workers, the union that represents roughly 140,000 factory employees at Detroit automakers, elected regional director Gary Jones as its new president ahead of tough 2019 contract negotiations likely to coincide with slowing U.S. sales of new vehicles, Reuters reports, citing a celebration at Detroit convention hall. Jones, a certified public accountant, will have to head the union through a widening U.S. Justice Department probe into alleged misspending at UAW union training centers as well as contract talks with General Motors (GM), Ford (F) and Fiat Chrysler (FCAU) next year. Reference Link

GM

General Motors

$44.43

0.24 (0.54%)

F

Ford

$12.02

-0.095 (-0.78%)

FCAU

Fiat Chrysler

$20.99

-0.125 (-0.59%)

  • 20

    Jun

GM General Motors
$44.43

0.24 (0.54%)

06/01/18
JPMS
06/01/18
NO CHANGE
Target $58
JPMS
Overweight
General Motors price target raised to $58 from $55 at JPMorgan
JPMorgan analyst Ryan Brinkman raised his price target for General Motors (GM) to $58 saying the $2.25B investment by SoftBank (SFTBY) in the company's Cruise autonomous mobility business is "positive on a number of fronts." The investment "puts a stake in the ground relative to the value of Cruise" and shows "just how inexpensive GM's core automotive operations really are," Brinkman tells investors in a research note. The analyst sees 36% upside in shares of GM and reiterates an Overweight rating on the name.
06/06/18
MSCO
06/06/18
NO CHANGE
MSCO
Morgan Stanley says Softbank stake in Cruise significant 'far beyond' just GM
Morgan Stanley analyst Adam Jonas said Softbank's (SFTBF) recently announced investment in GM Cruise "carries significance far beyond" General Motors (GM), arguing that the increasingly conspicuous involvement of "outside validators" such as large-cap tech firms and prominent investors can accelerate perception change in the capital markets about "Auto 2.0." He envisions the possible formation of two different companies currently held under one automaker's roof, which he dubs an Auto 2.0 "Yieldco" and an Auto 2.0 "Growthco." Converting car owners into monthly subscribers could open up significant revenue, profit, and value opportunities for traditional automakers, argues Jonas in a note to investors. Other automaking "OEMs" include Ford (F), Daimler (DDAIF), Toyota (TM), Honda (HMC), Fiat Chrysler (FCAU) and BMW Group (BAMXY).
05/31/18
05/31/18
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. General Motors (GM) upgraded to Outperform from In Line at Evercore ISI with analyst George Galliers saying he had been assigning no value to the Cruise assets before the announcement. 2. Biogen (BIIB) upgraded to Buy from Hold at Canaccord with analyst Sumant Kulkarni saying although there are risks that remain, the company's financial flexibility makes him more positive on the shares. 3. Corning (GLW) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst James Faucette saying that the number one question he gets from investors is about how the display market has remained so healthy despite weakness in the panel market over the past couple of years. 4. Quality Systems (QSII) upgraded to Overweight from Neutral at Cantor Fitzgerald with analyst Steven Halper saying after the better than expected Q4 results, it appears the company's growth prospects have improved. 5. Extended Stay America (STAY) upgraded to Overweight at Morgan Stanley with analyst Thomas Allen noting that company management highlighted at a recent conference that it could follow a similar path to La Quinta (LQ), which recently announced plans to shift from an asset-heavy, single-brand Lodging company to a REIT. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/05/18
MSCO
06/05/18
NO CHANGE
Target $50
MSCO
Overweight
GM price target raised to $50 after Softbank investment at Morgan Stanley
Morgan Stanley analyst Adam Jonas raised his attribution of GM Autonomous value to $9.25B from $2B in his sum-of-the-parts model for General Motors following Softbank's $2.25B investment in GM Cruise and increased his sum-of-the-parts valuation of GM to $61. He also increased his price target on GM shares to $50 from $48 and keeps an Overweight rating on the stock.
F Ford
$12.02

-0.095 (-0.78%)

05/29/18
JEFF
05/29/18
UPGRADE
Target $14
JEFF
Buy
Ford upgraded to Buy from Hold at Jefferies
Jefferies analyst Philippe Houchois upgraded Ford Motor to Buy and raised his price target for the shares to $14 from $13. The stock closed Friday down 11c to $11.51. The company is getting no credit for its "ambitious but credible" cost targets and "strategic levers" to improve market and product exposure, Houchois tells investors in a research note. The analyst thinks Ford is early among global carmakers in reevaluating how it allocates capital. Ford is his top pick among U.S. car manufacturers.
05/29/18
05/29/18
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. Ford (F) upgraded to Buy from Hold at Jefferies with analyst Philippe Houchois saying the company is getting no credit for its "ambitious but credible" cost targets and "strategic levers" to improve market and product exposure. 2. Roku (ROKU) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Benjamin Swinburne saying the shares are now down over 25% year-to-date while the company's "core fundamentals," such as ARPU and user growth, have been consistently coming in ahead of his prior expectations. 3. Phillips 66 (PSX) upgraded to Outperform from Market Perform at Wells Fargo with analyst Roger Read saying the IMO 2020 low sulfur marine fuel rule in his estimation will be a positive for the U.S. Independent Refiners. 4. Agnico Eagle (AEM) upgraded to Outperform from Market Perform at BMO Capital with analyst Andrew Kaip saying the company stands to benefit from "solid production growth" of 30% through 2020 following the addition of Meliadine assets into the pipeline and an improving free cash flow profile. 5. Occidental Petroleum (OXY) upgraded to Overweight from Equalweight at Capital One. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/06/18
MSCO
06/06/18
NO CHANGE
Target $16
MSCO
Overweight
Morgan Stanley questions if Ford has a 'business problem or a marketing problem'
Morgan Stanley analyst Adam Jonas estimate that Ford's F-Series pickup truck will produce $42B of revenues in 2018 and produce net income of approximately $6.5B. Excluding Ford Motor, he believes the F-Series franchise would rank #72 on the Fortune 500 list by revenues and that the F-Series ranks "well inside the top 50 companies" in the U.S. in terms of profitability. Given these estimates, Jonas wonders in his note to investors whether Ford has "a business problem or a marketing problem," questioning if the stock market just does "not appreciate the extremely large value of the F-Series business" or if it offsets this large value with "an implied large negative value" of over $10B for the rest of Ford's business. Jonas maintains an Overweight rating and $16 price target on Ford shares.
FCAU Fiat Chrysler
$20.99

-0.125 (-0.59%)

05/31/18
SPHN
05/31/18
NO CHANGE
Target $22
SPHN
Equal Weight
FCA better off buying Santander Consumer than forming own captive, says Stephens
Stephens analyst Vincent Caintic recommends buying Santander Consumer (SC) shares on the weakness he attributed to the Bloomberg report that Fiat Chrysler (FCAU) may seek to form its own captive finance unit in the U.S. FCA would have to buy Santander Consumer's equity stake in the existing captive, as well as form a new captive when its own credit ratings are worse, which would mean it would have higher funding costs, argues Caintic. He thinks it would make more sense for Chrysler to buy Santander Consumer if it wants to have captive ownership. Caintic maintains an Equal Weight rating and $22 price target on Santander Consumer shares.
05/31/18
JEFF
05/31/18
NO CHANGE
Target $25
JEFF
Buy
Fiat unlikely to break agreement with Santander Consumer, says Jefferies
Shares of Santander Consumer (SC) fell yesterday after Bloomberg reported on the potential prospect of Fiat Chrysler (FCAU) creating its own captive finance arm in the U.S. Citing the time it takes to ramp a captive platform and the five years remaining on Santander Consumer's contract, Jefferies analyst John Hecht does not see a near-term threat to Santander Consumer's business. Further, he expects Santander Consumer can focus on new products and channels over time to the extent that Chrysler develops a financing arm. The analyst also believes there would be "potentially meaningful breakup fees" under various scenarios. As such, he currently considers Fiat breaking its agreement with Santander Consumer as an unlikely outcome. Hecht has a Buy rating on the shares with a $25 price target.
06/01/18
MSCO
06/01/18
NO CHANGE
Target $28
MSCO
Overweight
Fiat Chrysler 2022 targets more conservative than expected, says Morgan Stanley
Morgan Stanley analyst Adam Jonas said the 2022 targets Fiat Chrysler shared at its investor meeting are "strong," but the company's stated goals for top-line growth, margins and cash flow are also not as high as he expected. The 2022 targets are "generally" in-line with market expectations, which paired with a lack of any major strategic announcement is what Jonas blames for the "sell-the-news" reaction being seen in today's trading. Jonas maintains his Overweight rating and $28 price target on Fiat Chrysler shares, which are down over 6% to $21.76 in New York trading.

TODAY'S FREE FLY STORIES

C

Citi

$74.33

0.2 (0.27%)

09:55
09/24/18
09/24
09:55
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09:55
Options
Citi put volume heavy and directionally bearish »

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EW

Edwards Lifesciences

$161.52

7.81 (5.08%)

, ALXN

Alexion

$128.15

6.18 (5.07%)

09:55
09/24/18
09/24
09:55
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09:55
Options
Early notable gainers among liquid option names on September 24th »

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EW

Edwards Lifesciences

$161.52

7.81 (5.08%)

ALXN

Alexion

$128.15

6.18 (5.07%)

APA

Apache

$47.61

1.665 (3.62%)

ABT

Abbott

$71.27

2.22 (3.22%)

NFX

Newfield Exploration

$29.85

0.81 (2.79%)

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09/24/18
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09:55
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Conference/Events
UBS consumer goods analyst to hold an analyst/industry conference call »

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SBAC

SBA Communications

$159.90

-0.62 (-0.39%)

09:54
09/24/18
09/24
09:54
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09:54
Conference/Events
SBA Communications management to meet with JPMorgan »

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09:50
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General news
Florence Fallout: »

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Conference/Events
RBC Capital equity strategy analyst to hold an analyst/industry conference call »

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RHHBY

Roche

$0.00

(0.00%)

09:49
09/24/18
09/24
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Hot Stocks
Genentech: Tecentriq + chemotherapy reduced risk of disease worsening in trial »

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UNFI

United Natural Foods

$30.73

-0.29 (-0.93%)

09:47
09/24/18
09/24
09:47
09/24/18
09:47
Recommendations
United Natural Foods analyst commentary  »

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YEXT

Yext

$23.24

-1.53 (-6.18%)

09:47
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Hot Stocks
Yext falls -5.4% »

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RHHBY

Roche

$0.00

(0.00%)

09:47
09/24/18
09/24
09:47
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09:47
Hot Stocks
Genentech's Entrectinib showed durable response rate of over 2 years in NSCLC »

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DWT

Britannia Bulk

$5.57

-0.3 (-5.11%)

09:47
09/24/18
09/24
09:47
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09:47
Hot Stocks
Britannia Bulk falls -5.3% »

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PPDF

PPDAI Group

$6.01

-0.59 (-8.94%)

09:47
09/24/18
09/24
09:47
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09:47
Hot Stocks
PPDAI Group falls -9.5% »

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P

Pandora

$9.65

0.57 (6.28%)

09:47
09/24/18
09/24
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Hot Stocks
Pandora rises 6.2% »

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XON

Intrexon

$16.14

1.645 (11.35%)

09:47
09/24/18
09/24
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Intrexon rises 12.1% »

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SA

Seabridge Gold

$12.45

1.2 (10.67%)

09:47
09/24/18
09/24
09:47
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Hot Stocks
Seabridge Gold rises 10.6% »

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  • 24

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HKMPY

Hikma

$0.00

(0.00%)

09:45
09/24/18
09/24
09:45
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09:45
Conference/Events
Hikma has a conference call hosted by JPMorgan »

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  • 24

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09:43
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Conference/Events
The National Press Club to host a luncheon meeting »

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KORS

Michael Kors

$72.67

(0.00%)

09:42
09/24/18
09/24
09:42
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09:42
Technical Analysis
Technical Take: Michael Kors falls on potential Versace bid »

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AWSM

Cool Holdings

$19.00

(0.00%)

09:41
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Periodicals
Cool Holdings has 'fatally flawed' model, TheStreetSweeper says »

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NITE

Nightstar Therapeutics

$25.64

(0.00%)

09:40
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09/24
09:40
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09:40
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Nightstar Therapeutics analyst commentary  »

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USO

United States Oil Fund

$14.95

(0.00%)

, SYMC

Symantec

$20.90

(0.00%)

09:40
09/24/18
09/24
09:40
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09:40
Options
Unusually active option classes on open September 24th »

Unusual total active…

USO

United States Oil Fund

$14.95

(0.00%)

SYMC

Symantec

$20.90

(0.00%)

ITUB

Itau Unibanco

$10.88

(0.00%)

PG

Procter & Gamble

$85.75

(0.00%)

KO

Coca-Cola

$46.58

(0.00%)

HD

Home Depot

$211.77

(0.00%)

GLD

SPDR Gold Trust

$113.48

(0.00%)

P

Pandora

$9.08

(0.00%)

IQ

iQIYI

$26.20

(0.00%)

V

Visa

$149.98

(0.00%)

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    Mar

JLL

Jones Lang LaSalle

$145.37

(0.00%)

09:40
09/24/18
09/24
09:40
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09:40
Conference/Events
Jones Lang LaSalle management to meet with JPMorgan »

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09:40
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General news
Euro$ interest rate futures are choppy »

Euro$ interest rate…

ELY

Callaway Golf

$22.70

-0.26 (-1.13%)

09:36
09/24/18
09/24
09:36
09/24/18
09:36
Conference/Events
Callaway Golf management to meet with JPMorgan »

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MDT

Medtronic

$97.85

0.38 (0.39%)

09:34
09/24/18
09/24
09:34
09/24/18
09:34
Conference/Events
Medtronic to hold an investor event »

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  • 09

    Oct

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