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EXC

Exelon

$41.94

0.08 (0.19%)

, FE

FirstEnergy

$35.55

0.25 (0.71%)

10:47
07/10/18
07/10
10:47
07/10/18
10:47

Exelon agrees to purchase retail and wholesale contracts from FirstEnergy

In a regulatory filing, Exelon Generation Company (EXC) reported that it has entered into an asset purchase agreement with FirstEnergy Solutions Corporation (FE). Pursuant to the agreement, FirstEnergy assigns all of its retail electricity and wholesale load serving contracts and certain other related commodity contracts to Generation for an all cash purchase price of $140M. The transaction is expected to close in the fourth quarter of 2018. The closing of the transaction is subject to certain conditions, including Generation being the winning bidder after a court-supervised Section 363 bankruptcy auction, the approval of the purchase agreement by the U.S. Bankruptcy Court for the Northern District of Ohio following the auction, and expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Either party may terminate the purchase agreement if the transaction has not been consummated by December 31, 2018.

EXC

Exelon

$41.94

0.08 (0.19%)

FE

FirstEnergy

$35.55

0.25 (0.71%)

EXC Exelon
$41.94

0.08 (0.19%)

03/28/18
GSCO
03/28/18
UPGRADE
GSCO
Neutral
Exelon upgraded to Neutral from Sell at Goldman Sachs
03/28/18
GSCO
03/28/18
UPGRADE
GSCO
Neutral
Exelon upgraded to Neutral from Sell at Goldman Sachs
Goldman Sachs analyst Michael Lapides upgraded Exelon to Neutral from Sell with a $43 price target, as the analyst sees higher sum-of-parts value, potential upside to consensus estimates, and few near-term negative catalysts.
03/29/18
03/29/18
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. Exelon (EXC) upgraded to Neutral from Sell at Goldman Sachs by analyst Michael Lapides, with a $43 price target, as the analyst sees higher sum-of-parts value, potential upside to consensus estimates, and few near-term negative catalysts. 2. Harley-Davidson (HOG) upgraded to Neutral from Underperform at Longbow by analyst David MacGregor, citing valuation despite channel checks that indicate continued weakness in U.S. sales. MacGregor continues to be concerned about weak U.S. retail sales trends but views shares as fairly valued following his downgrade in January. 3. Jacobs Engineering (JEC) upgraded to Buy from Hold at Deutsche Bank by analyst Chad Dillard, who said the market is pricing in a near certain probability the CH2M merger integration will fail. He believes the concerns are overdone and thinks the risk of this merger is lower than other deals in the space. Jacobs management has a strong execution track record, Dillard contended. The analyst sees a path to 65% earnings growth and a doubling of free cash flow over the next three years. As such, he views the stock as "significantly undervalued." 4. Akamai (AKAM) upgraded to Equal Weight from Underweight at Morgan Stanley by analyst Keith Weiss. After a period of declining margins, he sees signs of stability, noting that following the involvement of activist Elliott Management the company has announced a 5% workforce reduction and new shareholder value initiatives. Also, the contribution from Akamai's top 6 Media customers looks to have stabilized after two years of steep declines and his customer survey indicating a more defensible core base, Weiss said. 5. Yandex (YNDX) upgraded to Buy from Neutral at Citi by analyst Brady Martin, who updated his model to reflect the company's better than expected fiscal 2017 financials as well as the taxi transaction with Uber that closed in February. Martin noted that Yandex continues to increase share on both desktop and mobile. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/10/18
LEHM
07/10/18
INITIATION
Target $46
LEHM
Equal Weight
Exelon initiated with an Equal Weight at Barclays
Barclays analyst Eric Beaumont started Exelon with an Equal Weight rating and $46 price target.
FE FirstEnergy
$35.55

0.25 (0.71%)

04/30/18
WELS
04/30/18
UPGRADE
Target $41
WELS
Outperform
FirstEnergy upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Neil Kalton upgraded FirstEnergy to Outperform and raised his price target for the shares to $41 from $38. The analyst believes the company's valuation discount to peers is "excessive."
05/07/18
MZHO
05/07/18
UPGRADE
Target $36.5
MZHO
Buy
FirstEnergy upgraded to Buy from Neutral at Mizuho
Mizuho analyst Paul Fremont upgraded FirstEnergy to Buy with an increased price target of $36.50. The analyst views the shares as "cheap" at current levels and views FirstEnergy as a potential M&A candidate.
06/18/18
MSCO
06/18/18
NO CHANGE
MSCO
Overweight
Utilities sector upgraded to Overweight at Morgan Stanley
Morgan Stanley equity strategist Michael Wilson noted that year-to-date performance across assets shows large divergences in performance across the risk spectrum, arguing that it is "probably not too early" to start shifting out of some of the extreme cyclicals and picking up more defensively oriented names given the "ever tightening" financial conditions. He upgraded the Utilities sector to Overweight, citing expectations of peak 10 Year Treasury yields and improving relative earnings breadth. The firm has individual Overweight ratings on American Electric (AEP), FirstEnergy (FE), NextEra Energy (NEE), NextEra Energy Partners (NEP), PG&E (PCG), PSEG (PEG) and Xcel Energy (XEL).
07/10/18
LEHM
07/10/18
INITIATION
Target $39
LEHM
Equal Weight
FirstEnergy initiated with an Equal Weight at Barclays
Barclays analyst Eric Beaumont started FirstEnergy with an Equal Weight rating and $39 price target.

TODAY'S FREE FLY STORIES

ADS

Alliance Data

$218.91

-24.58 (-10.09%)

, LB

L Brands

$32.01

0.31 (0.98%)

07:32
07/17/18
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07:32
Hot Stocks
Columbus signs renewal agreement with Victoria's Secret »

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ADS

Alliance Data

$218.91

-24.58 (-10.09%)

LB

L Brands

$32.01

0.31 (0.98%)

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PRIM

Primoris

$28.12

-0.51 (-1.78%)

07:32
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07:32
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Primoris announces electrical distribution award valued over $75M »

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ZS

Zscaler

$41.10

1.38 (3.47%)

07:30
07/17/18
07/17
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07:30
Recommendations
Zscaler analyst commentary  »

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TSRO

Tesaro

$40.55

-4.34 (-9.67%)

, QEP

QEP Resources

$12.09

-0.67 (-5.25%)

07:30
07/17/18
07/17
07:30
07/17/18
07:30
Options
Unusual put flow in option market yesterday »

Notable put activity was…

TSRO

Tesaro

$40.55

-4.34 (-9.67%)

QEP

QEP Resources

$12.09

-0.67 (-5.25%)

HUBG

Hub Group

$49.10

-1.85 (-3.63%)

03/08/13
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  • 26

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RPM

RPM

$60.00

-0.54 (-0.89%)

07:27
07/17/18
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07:27
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07:27
Downgrade
RPM rating change  »

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  • 19

    Jul

OSUR

OraSure

$16.28

-1.04 (-6.00%)

07:27
07/17/18
07/17
07:27
07/17/18
07:27
Recommendations
OraSure analyst commentary  »

OraSure weakness a buying…

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  • 18

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  • 08

    Aug

NFLX

Netflix

$400.24

4.32 (1.09%)

07:26
07/17/18
07/17
07:26
07/17/18
07:26
Recommendations
Netflix analyst commentary  »

Canaccord views Netflix…

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ECOR

ElectroCore

$14.49

-0.51 (-3.40%)

07:25
07/17/18
07/17
07:25
07/17/18
07:25
Initiation
ElectroCore initiated  »

ElectroCore initiated…

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FTI

TechnipFMC

$30.58

-0.36 (-1.16%)

07:24
07/17/18
07/17
07:24
07/17/18
07:24
Initiation
TechnipFMC initiated  »

TechnipFMC assumed with…

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  • 26

    Jul

QTS

QTS Realty Trust

$40.90

-0.05 (-0.12%)

07:23
07/17/18
07/17
07:23
07/17/18
07:23
Initiation
QTS Realty Trust initiated  »

QTS Realty Trust resumed…

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  • 26

    Jul

BA

Boeing

$356.01

5.2 (1.48%)

07:22
07/17/18
07/17
07:22
07/17/18
07:22
Hot Stocks
Boeing signs integrated services agreement with Blackshape »

Boeing announced it…

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  • 25

    Jul

NFLX

Netflix

$400.24

4.32 (1.09%)

07:22
07/17/18
07/17
07:22
07/17/18
07:22
Recommendations
Netflix analyst commentary  »

Oppenheimer remains…

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NFLX

Netflix

$400.24

4.32 (1.09%)

07:22
07/17/18
07/17
07:22
07/17/18
07:22
Recommendations
Netflix analyst commentary  »

Netflix price target…

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INXN

Interxion

$64.05

0.77 (1.22%)

07:21
07/17/18
07/17
07:21
07/17/18
07:21
Initiation
Interxion initiated  »

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  • 02

    Aug

07:20
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07/17
07:20
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07:20
General news
FX Update: The Dollar remained on a softening tack »

FX Update: The Dollar…

BAESY

BAE Systems

$0.00

(0.00%)

07:19
07/17/18
07/17
07:19
07/17/18
07:19
Periodicals
BAE Systems wants international partners for UK fighter project, Reuters says »

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INAP

Internap

$11.31

-0.63 (-5.28%)

07:19
07/17/18
07/17
07:19
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07:19
Initiation
Internap initiated  »

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V

Visa

$138.45

-0.91 (-0.65%)

, MA

MasterCard

$204.05

-1.86 (-0.90%)

07:19
07/17/18
07/17
07:19
07/17/18
07:19
Recommendations
Visa, MasterCard analyst commentary  »

Visa price target raised…

V

Visa

$138.45

-0.91 (-0.65%)

MA

MasterCard

$204.05

-1.86 (-0.90%)

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  • 25

    Jul

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FDC

First Data

$22.24

-0.06 (-0.27%)

07:19
07/17/18
07/17
07:19
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07:19
Recommendations
First Data analyst commentary  »

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  • 30

    Jul

EQIX

Equinix

07:17
07/17/18
07/17
07:17
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07:17
Initiation
Equinix initiated  »

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  • 05

    Aug

MA

MasterCard

$204.05

-1.86 (-0.90%)

07:17
07/17/18
07/17
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07:17
Recommendations
MasterCard analyst commentary  »

MasterCard price target…

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  • 26

    Jul

AUTL

Autolus Therapeutics

$23.00

2.11 (10.10%)

07:16
07/17/18
07/17
07:16
07/17/18
07:16
Initiation
Autolus Therapeutics initiated  »

Autolus Therapeutics…

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AVT

Avnet

07:15
07/17/18
07/17
07:15
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07:15
Initiation
Avnet initiated  »

Avnet initiated with a…

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ARW

Arrow Electronics

$77.09

-0.47 (-0.61%)

07:15
07/17/18
07/17
07:15
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07:15
Initiation
Arrow Electronics initiated  »

Arrow Electronics…

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QURE

uniQure

$35.08

-4.41 (-11.17%)

, PFE

Pfizer

$37.39

-0.14 (-0.37%)

07:15
07/17/18
07/17
07:15
07/17/18
07:15
Recommendations
uniQure, Pfizer analyst commentary  »

uniQure pullback on…

QURE

uniQure

$35.08

-4.41 (-11.17%)

PFE

Pfizer

$37.39

-0.14 (-0.37%)

03/08/13
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  • 22

    Aug

  • 10

    Sep

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