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ARNC

Arconic

$19.27

-0.16 (-0.82%)

, BX

Blackstone

$36.05

-0.13 (-0.36%)

17:28
07/25/18
07/25
17:28
07/25/18
17:28

Arconic weighs buyout deals from Apollo and Blackstone-Carlyle pairing, WSJ says

Arconic (ARNC) is considering takeover approaches from at least two private equity groups, the Wall Street Journal reports, citing people familiar with the matter. Blackstone (BX) and Carlyle (CG) made a joint approach to Arconic, while Apollo Global (APO) also showed interest, the report says. The two competing entities have indicated a willingness to pay a per-share price in the mid-$20 range, the report says. Shares of Arconic rose about 12% in after hours trading following the news. Reference Link

ARNC

Arconic

$19.27

-0.16 (-0.82%)

BX

Blackstone

$36.05

-0.13 (-0.36%)

CG

Carlyle Group

$23.85

(0.00%)

APO

Apollo Global

$35.39

-0.44 (-1.23%)

  • 31

    Jul

  • 02

    Aug

ARNC Arconic
$19.27

-0.16 (-0.82%)

07/16/18
FBCO
07/16/18
NO CHANGE
Target $28
FBCO
Outperform
Arconic could be worth $24-$26 per share in buyout, says Credit Suisse
Credit Suisse analyst Curt Woodworth views Arconic (ARNC) as a "very viable" leveraged buyout candidate given its "highly depressed" multiples, operational and financial mismanagement, and "very strong" positions in automotive and aerospace end markets. The analyst believes the company could be worth $24-$26 per share in a buyout. The stock in morning trading is up 9%, or $1.60, to $18.98 after the Wall Street Journal reported that Arconic is the subject of takeover interest from private equity firms including Apollo Global Management (APO). Woodworth has an Outperform rating on the shares with a $28 price target.
05/31/18
ARGS
05/31/18
DOWNGRADE
ARGS
Hold
Arconic downgraded to Hold from Buy at Argus
Argus analyst John Eade downgraded Arconic to Hold from Buy, telling investors in a research note that shares have underperformed the market over the past quarter and its share price has been volatile over the last year, rising on expectations for infrastructure spending under the Trump administration and then falling on concerns about the role of its products in the fatal Grenfell Tower fire. The analyst says he may look to get Arconic shares back to a Buy rating once margins show signs of stabilizing.
07/16/18
JEFF
07/16/18
INITIATION
Target $23
JEFF
Buy
Arconic initiated with a Buy at Jefferies
Jefferies analyst Martin Englert started Arconic with a Buy rating and $23 price target. The company's "depressed" share price "creates a window of optionality" for management to utilize its $500M buyback and the recent reported interest from private equity is likely supportive of the valuation, Englert tells investors in a research note.
07/16/18
MSCO
07/16/18
NO CHANGE
Target $20
MSCO
Equal Weight
Morgan Stanley says Arconic LBO could work, but execution matters in near-term
After The Wall Street Journal reported that Arconic has received "expressions of interest" from a number of private-equity firms, Morgan Stanley analyst Rajeev Lalwani said two things stand out to make Arconic a plausible LBO candidate: its low EV/EBITDA multiple and its a cash flow profile, which has room for improvement. While the reported private equity interest "adds a level of intrigue," Lalwani still believes headwinds within it rings and disks business, working capital and capex issues and volatility associated with aluminum prices will be the key driver of shares in the near-term. Given the aforementioned execution concerns, Lalwani keeps an Equal Weight rating and $20 price target on Arconic shares, which are up 12% to $19.53 in pre-market trading.
BX Blackstone
$36.05

-0.13 (-0.36%)

07/10/18
MUFG
07/10/18
DOWNGRADE
Target $27.5
MUFG
Neutral
Gramercy Property Trust downgraded to Neutral from Overweight at MUFG
MUFG analyst Karin Ford downgraded Gramercy Property Trust (GPT) to Neutral with an unchanged price target of $27.50 citing the company's agreement to be acquired by Blackstone (BX).
06/08/18
BUCK
06/08/18
NO CHANGE
Target $46
BUCK
Buy
Aspen Insurance exit value $48-$50 per share, says Buckingham
Buckingham analyst Amit Kumar says a 1.25 to 1.3 times multiple on Aspen Insurance's (AHL) current book value gives an exit value of $48-$50 per share. Insurance Insider published a story yesterday that noted the potential finalists in the Aspen bidding process are Blackstone (BX) and Apollo (APO), Kumar tells investors in a research note. He continues to be a buyer of the stock with a Buy rating and $46 price target.
05/22/18
BARD
05/22/18
DOWNGRADE
Target $34
BARD
Neutral
LaSalle Hotel downgraded to Neutral from Outperform at Baird
Baird analyst Michael Bellisario downgraded LaSalle Hotel (LHO) to Neutral following its buyout offer from Blackstone (BX). The agreement puts the shares at full valuation and essentially matches his buyout math. As a result, he believes a higher bid is unlikely. Bellisario raised his price target to $34 from $32 on LaSalle Hotel shares.
05/21/18
LEHM
05/21/18
UPGRADE
LEHM
Equal Weight
LaSalle Hotel upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Felicia Kantor Hendrix upgraded LaSalle Hotel (LHO) to Equal Weight from Underweight following the company's announcement that it has agreed to be acquired by Blackstone (BX).
CG Carlyle Group
$23.85

(0.00%)

03/27/18
SBSH
03/27/18
NO CHANGE
SBSH
Citi says AkzoNobel free to think more strategically about M&A after divestiture
After AkzoNobel (AKZOY) announced the sale of its Specialty Chemicals business to Carlyle Group (CG) and GIC, Citi analyst P.J. Juvekar said the divestiture frees up the company to think more strategically about M&A. Akzo could go after Axalta (AXTA) again, but unless Akzo is prepared to pay a significant premium a deal is unlikely, said Juvekar. He thinks a price in the mid to high $30 range would be needed to get Axalta to the negotiating table. Akzo has thus far resisted a sale to PPG (PPG), but Juvekar thinks PPG would be interested if a deal were to be a friendly one.
02/14/18
JEFF
02/14/18
UPGRADE
Target $27
JEFF
Buy
Carlyle Group upgraded to Buy from Hold at Jefferies
Jefferies analyst Gerald E. O'Hara upgraded Carlyle Group to Buy and raised his price target for the shares to $27 from $23. The analyst sees an attractive entry point for the shares with the company at the midway point of a $100B fundraising cycle. He believes Carlyle's net accrued performance fees are poised for continued growth with all main drawdown funds currently in carry contribution.
03/12/18
SBSH
03/12/18
UPGRADE
Target $28.5
SBSH
Buy
Carlyle Group upgraded to Buy from Neutral at Citi
Citi analyst William Katz upgraded Carlyle Group to Buy and raised his price target for the shares to $28.50 from $25. The analyst sees a higher FRE outlook and believes the recent pullback in shares enhances the risk adjusted return.
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.
APO Apollo Global
$35.39

-0.44 (-1.23%)

07/24/18
BMOC
07/24/18
NO CHANGE
Target $62
BMOC
Market Perform
LifePoint price target raised to $62 from $51 at BMO Capital
BMO Capital analyst Matt Borsch raised his price target on LifePoint (LPNT) to $62 and kept his Market Perform rating after the proposed transaction for the company to be taken private by the Apollo Global (APO) affiliate RCCH HealthCare Partners at $65 per share. The analyst says his price target reflects the acquisition price blended with some uncertainty regarding the deal, even as he views the terms of the offer as attractive to LifePoint shareholders against the"backdrop of reimbursement and volume pressures that challenge acute care hospitals".
07/24/18
FBCO
07/24/18
NO CHANGE
Target $65
FBCO
Neutral
LifePoint price target raised to $65 from $58 at Credit Suisse
Credit Suisse analyst A.J. Rice raised his price target for LifePoint (LPNT) to $65 from $58 to reflect deal price after the company agreed to be acquired by Apollo Global (APO) affiliates for $65 per share. The analyst reiterates a Neutral rating on LifePoint shares.
07/24/18
RBCM
07/24/18
DOWNGRADE
Target $65
RBCM
Sector Perform
LifePoint downgraded to Sector Perform at RBC Capital after Apollo acquisition
As reported earlier, RBC Capital analyst Frank Morgan downgraded LifePoint (LPNT) to Sector Perform from Outperform but raised his price target to $65 from $63 after the company's announced $65 per share acquisition by Apollo Global Management (APO). The analyst notes the deal is expected to close in the next few months.
07/23/18
GSCO
07/23/18
NO CHANGE
GSCO
Deal activity could pick up after LifePoint takeout, says Goldman Sachs
Goldman Sachs analyst Stephen Tanal said that although the hospital industry appears to be grappling with secular challenges, hospitals are still generating meaningful and relatively predictable cash flows and mostly trading at lower multiples than other stocks in the broader healthcare space. Given an environment in which rates are low, credit is available and financial buyers have "dry powder," he believes deal activity could pick up following LifePoint's (LPNT) agreement to be bought by Apollo Global (APO) affiliates. Community Health (CYH), like LifePoint, should be "relevant for years to come" as its hospitals are often the sole provider of acute healthcare services in small towns or rural areas, according to Tanal. HCA Healthcare (HCA), in contrast, is positioned in fast-growing markets with high levels of commercial coverage, Tanal added.

TODAY'S FREE FLY STORIES

QCOM

Qualcomm

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VET

Vermilion Energy

$21.12

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Exxon Mobil

$75.49

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TTD

Trade Desk

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0.72 (0.30%)

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NVS

Novartis

$90.11

0.99 (1.11%)

05:11
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Earnings
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IHG

InterContinental

$69.80

-0.16 (-0.23%)

05:11
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  • 25

    Sep

WTBDY

Whitbread

$0.00

(0.00%)

05:10
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Whitbread rating change  »

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MGM

MGM Resorts

$28.85

-0.555 (-1.89%)

05:08
07/18/19
07/18
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MGM Resorts rating change  »

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  • 25

    Jul

EXP

Eagle Materials

$86.46

-0.245 (-0.28%)

05:06
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  • 13

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ATI

Allegheny Technologies

$24.47

-0.415 (-1.67%)

05:05
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Allegheny Technologies rating change  »

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03/08/13
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  • 23

    Jul

  • 06

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ARNC

Arconic

$25.29

-0.49 (-1.90%)

05:05
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07/18
05:05
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05:05
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Arconic rating change  »

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USCR

U.S. Concrete

$50.87

-0.96 (-1.85%)

05:04
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  • 04

    Sep

  • 13

    Nov

AMD

AMD

$33.59

-0.23 (-0.68%)

, INTC

Intel

$49.39

0.22 (0.45%)

04:59
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AMD downgraded to Neutral from Buy at Mizuho »

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AMD

AMD

$33.59

-0.23 (-0.68%)

INTC

Intel

$49.39

0.22 (0.45%)

03/08/13
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  • 25

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04:55
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General news
Jobless Claims to be reported at 08:30 »

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GMRE

Global Medical REIT

$10.51

-0.15 (-1.41%)

04:55
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  • 18

    Jul

  • 08

    Aug

TORC

ResTORbio

$10.42

0.19 (1.86%)

04:55
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  • 18

    Jul

SUPV

Grupo Supervielle

$8.12

0.13 (1.63%)

04:55
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  • 18

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CAMP

CalAmp

$10.82

-0.46 (-4.08%)

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  • 18

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ACAD

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DGX

Quest Diagnostics

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ESALY

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$0.00

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PKI

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MRK

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Quanterix

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SYNH

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OPNT

Opiant Pharmaceuticals

$13.24

-0.25 (-1.85%)

04:55
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04:55
Conference/Events
Opiant Pharmaceuticals management to meet with Northland »

Meetings to be held in…

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  • 18

    Jul

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    Jul

CASY

Casey's General Stores

$160.43

0.08 (0.05%)

04:55
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04:55
Conference/Events
Casey's General Stores management to meet with Northcoast »

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  • 18

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