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ORA

Ormat Technologies

$53.04

3.34 (6.72%)

, WMGI

Wright Medical

$28.06

1.76 (6.69%)

10:34
08/09/18
08/09
10:34
08/09/18
10:34

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Ormat Technologies (ORA) upgraded to Overweight from Neutral at JPMorgan by analyst Paul Coster. The company reported mixed Q2 results and guidance owing to disruption at the Puna plant in Hawaii, but Coster believes that when excluding Puna, Ormat's execution "remains solid" and the company's long-term growth prospects "remain undimmed." 2. Wright Medical (WMGI) upgraded to Buy from Neutral at BofA/Merrill by analyst Travis Steed, who cited increased confidence in 2H 2018 and 2019 double digit growth and upside to Street estimates. Steed said growth in the core lower extremities business returned to market rates for the first time since Q1 2016 and believes it can accelerate further from new products and productivity ramps. 3. WildHorse Resource (WRD) upgraded to Buy from Hold at SunTrust by analyst Welles Fitzpatrick, who noted that the 13% decline in the stock price "makes little sense" from differentials or CapEx point of view, adding that the move in pricing does not warrant the large decline. Fitzpatrick views WildHorse Resource as a "simple, single-basin story, with distinct, quantifiable advantages such as premium oil pricing given its gulf coast access, ability to realized material savings with an in-field sand mine, and optionality to expand its midstream system." 4. ITG (ITG) upgraded to Overweight from Neutral at JPMorgan by analyst Kenneth Worthington, saying that the company's fundamentals are improving as it gains "traction on a number of fronts" that have and will continue to drive higher earnings power over time, particularly outside the U.S. 5. Comstock Resources (CRK) upgraded to Buy from Neutral at Ladenburg by analyst Michael Schmitz, who said the recent pullback in shares provides an attractive entry point. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

ORA

Ormat Technologies

$53.04

3.34 (6.72%)

WMGI

Wright Medical

$28.06

1.76 (6.69%)

WRD

WildHorse Resource

$19.79

-0.32 (-1.59%)

ITG

ITG

$23.30

2.735 (13.30%)

CRK

Comstock Resources

$8.64

0.64 (8.00%)

  • 10

    Aug

  • 19

    Aug

ORA Ormat Technologies
$53.04

3.34 (6.72%)

06/13/18
06/13/18
DOWNGRADE

Neutral
Ormat downgraded to Neutral on poor visibility, Hawaii overhang at Guggenheim
As previously reported, Guggenheim analyst Sophie Karp downgraded Ormat Technologies to Neutral from Buy, citing poor visibility due to the pending 2017 results restatement and the ongoing internal controls issue. She also has revised her estimates to incorporate at least a temporary loss of the plant in Hawaii, which she sees continuing to create an overhang on the shares in the near-term.
06/13/18
GUGG
06/13/18
DOWNGRADE
GUGG
Neutral
Ormat Technologies downgraded to Neutral from Buy at Guggenheim
05/14/18
05/14/18
DOWNGRADE
Target $62

Neutral
JPMorgan downgrades Ormat to Neutral on risk of loss of Hawaii facility
As previously reported, JPMorgan analyst Paul Coster downgraded Ormat Technologies to Neutral from Overweight given the risk of the company's Puna geothermal facility in Hawaii being decommissioned temporarily or of being destroyed by movement of lava following the eruption at Kilaeau. Coster lowered his estimates to assume loss of 38GW of Puna capacity for 12 months and cut his price target on Ormat shares to $62 from $66.
08/09/18
JPMS
08/09/18
UPGRADE
Target $60
JPMS
Overweight
Ormat Technologies upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Paul Coster upgraded Ormat Technologies to Overweight while lowering his price target for the shares to $60 from $64. The company reported mixed Q2 results and guidance owing to disruption at the Puna plant in Hawaii, Coster tells investors in a post-earnings research note. However, he believes that when excluding Puna, Ormat's execution "remains solid" and the company's long-term growth prospects "remain undimmed." He finds the stock attractively valued at current levels.
WMGI Wright Medical
$28.06

1.76 (6.69%)

08/09/18
BOFA
08/09/18
UPGRADE
Target $34
BOFA
Buy
Wright Medical upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Travis Steed upgraded Wright Medical to Buy from Neutral and raised its price target to $34 from $28 following the Q2 report citing increased confidence in 2H 2018 and 2019 double digit growth and upside to Street estimates. Steed said growth in the core lower extremities business returned to market rates for the first time since Q1 2016 and believes it can accelerate further from new products and productivity ramps. The analyst said Wright Medical has a material leverage and margin opportunity, and views the company as "strategically attractive."
08/09/18
PIPR
08/09/18
NO CHANGE
Target $32
PIPR
Overweight
Wright Medical price target raised to $32 from $28 at Piper Jaffray
Piper Jaffray analyst Matt O'Brien raised his price target for Wright Medical to $32 following the company's Q2 beat and guidance raise. Given the recent launch of Inject, meaningful new product launches expected in the second half of 2018, and continued momentum in the core franchise, Wright Medical "continues to be a solid growth story," O'Brien tells investors in a research note. The analyst keeps an Overweight rating on the shares.
08/09/18
CANT
08/09/18
NO CHANGE
Target $35
CANT
Overweight
Wright Medical price target raised to $35 from $30 at Cantor Fitzgerald
Cantor Fitzgerald analyst Craig Bijou raised his price target for Wright Medical to $35 saying the company last night posted an "impressive beat and raise" quarter with strength across its portfolio. Wright has strong competitive positions in the faster-growing markets in orthopedics, Bijou tells investors in a post-earnings research note. He reiterates an Overweight rating on the shares.
07/10/18
BMOC
07/10/18
DOWNGRADE
Target $28
BMOC
Market Perform
Wright Medical downgraded to Market Perform at BMO Capital on valuation
As reported earlier, BMO Capital analyst Joanne Wuensch downgraded Wright Medical to Market Perform from Outperform but raised her price target to $28 from $25. The analyst notes that her new estimates now include the Augment Inject approval, though the 19% year-to-date rally in the stock price already reflects that development, with the current valuation of 4.2-times enterprise value to next-twelve-month sales coming above the 3.2-times average of the past 6 years. Wuensch adds that because of that high valuation, the next leg up in the stock price will be "more tempered".
WRD WildHorse Resource
$19.79

-0.32 (-1.59%)

07/19/18
RHCO
07/19/18
INITIATION
Target $26
RHCO
Hold
WildHorse Resource initiated with a Hold at SunTrust
SunTrust analyst Welles Fitzpatrick initiated WildHorse Resource with a Hold rating and a price target of $26, saying the company is a "pure play" for the "highly productive and delineated" NE Eagle Ford basin. The analyst is also positive on WildHorse Resource's access to Gulf Coast crude markets and its "consolidated position that allows the company to leverage scale". Despite the backdrop of strong oil pricing and significant differential realizations, Fitzpatrick keeps his Hold rating on WildHorse Resource, stating that its valuation is in-line with fundamentals.
08/09/18
RHCO
08/09/18
UPGRADE
Target $25
RHCO
Buy
WildHorse Resource upgraded to Buy at SunTrust on valuation
As reported earlier, SunTrust analyst Welles Fitzpatrick upgraded WildHorse Resource to Buy from Hold but lowered his price target to $25 from $26 after its Q2 results. The analyst notes that the 13% decline in the stock price "makes little sense" from differentials or CapEx point of view, adding that the move in pricing does not warrant the large decline. Fitzpatrick views WildHorse Resource as a "simple, single-basin story, with distinct, quantifiable advantages such as premium oil pricing given its gulf coast access, ability to realized material savings with an in-field sand mine, and optionality to expand its midstream system".
08/08/18
RHCO
08/08/18
UPGRADE
RHCO
Buy
WildHorse Resource upgraded to Buy from Hold at SunTrust
06/20/18
GHSC
06/20/18
INITIATION
Target $37
GHSC
Buy
WildHorse Resource initiated with a Buy at Seaport Global
Seaport Global analyst Mike Kelly initiated WildHorse Resource with a Buy and $37 price target citing discounted valuation versus Eagle Ford peers, strong growth, superior cash margins, and a healthy balance sheet.
ITG ITG
$23.30

2.735 (13.30%)

08/09/18
JPMS
08/09/18
UPGRADE
Target $25
JPMS
Overweight
ITG upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Kenneth Worthington upgraded ITG to Overweight and raised his price target for the shares to $25 from $24. The company's fundamentals are improving as it gains "traction on a number of fronts" that have and will continue to drive higher earnings power over time, particularly outside the U.S., Worthington tells investors in a research note. Further, the analyst believes the pending SEC settlement on operational and reporting shortfalls will have little sustained negative impact.
03/02/18
RSBL
03/02/18
UPGRADE
RSBL
Buy
ITG upgraded to Buy from Neutral at Rosenblatt
Rosenblatt analyst Chris Allen upgraded ITG to Buy citing a healthier US volume backdrop, combined with expense savings and incremental margins north of 50%, should result in US segment profitability.
CRK Comstock Resources
$8.64

0.64 (8.00%)

08/09/18
LTCO
08/09/18
UPGRADE
Target $11
LTCO
Buy
Comstock Resources upgraded to Buy from Neutral at Ladenburg
Ladenburg Thalmann analyst Michael Schmitz upgraded Comstock Resources to Buy with an unchanged price target of $11. The recent pullback in shares provides an attractive entry point, Schmitz tells investors in a research note. With completion of new $700M credit facility and pricing of $850M of senior notes, Comstock is likely to successfully complete its refinancing plan, the analyst adds.
05/22/18
05/22/18
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. Macy's (M) upgraded to Positive from Neutral at Susquehanna with analyst Bill Dreher saying he believes the company's initiatives will generate "significant and unexpectedly strong" operating leverage, leading to what he expects to be a "parade" of beat and raise quarterly reports. 2. Fifth Third (FITB) upgraded to Neutral from Underperform at Baird ant to Neutral from Underperform at Macquarie. 3. AB InBev (BUD) upgraded to Sector Perform from Underperform at RBC Capital with analyst James Jones saying while margin growth may be elusive without volume growth, InBev profitability is likely to be "defendable" given the local nature of its brewing, where "economies of scale in production, marketing and distribution are most evident." 4. Comstock Resources (CRK) upgraded to Equalweight from Underweight at Capital One. 5. IHS Markit (INFO) upgraded to Outperform from Neutral at Macquarie with analyst Hamzah Mazari saying the Ipreo deal will drive IHS' organic growth to 5%-7% from 4%-6% and expects buybacks to resume following deleveraging below 3x in 2H 2019, combined with the divestiture of MarkitSERV. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/22/18
SOCO
05/22/18
UPGRADE
SOCO
Equalweight
Comstock Resources upgraded to Equalweight from Underweight at Capital One
05/22/18
STFL
05/22/18
INITIATION
Target $9.8
STFL
Hold
Comstock Resources resumed with a Hold at Stifel
Stifel analyst Jane Trotsenko resumes coverage of Comstock Resources with a Hold rating and a price target of $9.80. The analyst cites new JVs, the sale of producing assets in Eagle Ford, upcoming acquisition of assets in the Bakken and the company's recapitalization impacting its production outlook and earnings potential. Trotsenko adds that if the Bakken transacation closes, Comstock would have "much better financials and be positioned to deliver strong Haynesville production growth".

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