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BEL

Belmond

$15.10

4 (36.04%)

05:39
08/10/18
08/10
05:39
08/10/18
05:39

Belmond upgraded to Buy from Hold at Jefferies

Jefferies analyst David Katz upgraded Belmond to Buy and raised his price target for the shares to $20 from $13. With the company reviewing strategic alternatives, the analyst shifted the balance of his valuation perspective from the operating productivity to asset market value. Katz sees a high probability of a sale of Belmond given the quality of the company's assets. He believes such a deal could drive further upside in the stock.

BEL Belmond
$15.10

4 (36.04%)

07/03/18
LEHM
07/03/18
DOWNGRADE
Target $11
LEHM
Underweight
Belmond downgraded to Underweight from Overweight at Barclays
Barclays analyst Felicia Hendrix double downgraded Belmond to Underweight from Overweight and lowered her price target for the shares to $11 from $14. The analyst's downgrade follows an analysis of the company's progress on its growth targets announced back in June 2016. She views the targets as ambitious and believes investor patience is limited.
07/03/18
LEHM
07/03/18
DOWNGRADE
Target $11
LEHM
Underweight
Barclays double downgrades Belmond after assessing progress on targets
Barclays analyst Felicia Hendrix double downgraded Belmond to Underweight from Overweight and cut her price target for the shares to $11 from $14 after assessing the company's progress against the "ambitious" growth targets announced at its June 2016 investor day. Belmond is behind schedule on its goal to double its EBITDA by 2020, and, more concerning, the acquisition portion of the plan has been "notably more expensive than guided," Hendrix tells investors in a research note. The analyst says the investors she talks to seem to be growing "increasingly discontent" with the cost of the plan and with Belmond's corporate governance. As such, she believes the shares will continue to trail the lodging coverage universe until progress accelerates significantly or other changes are made.
07/03/18
07/03/18
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. United Continental (UAL), American Airlines (AAL), and Delta Airlines (DAL) downgraded to Hold from Buy at Deutsche Bank with analyst Michael Linenberg saying in a world of "heightened" macroeconomic and geopolitical risks, economically-sensitive, high beta stocks such as airlines typically underperform the broader market. 2. Belmond (BEL) downgraded to Underweight from Overweight at Barclays with analyst Felicia Hendrix citing an analysis of the company's progress on its growth targets announced back in June 2016. 3. PSEG (PEG) downgraded to Hold from Buy at Deutsche Bank with analyst Jonathan Arnold saying The Federal Energy Regulatory Commission order raised new questions over New Jersey zero-emission credits. 4. PepsiCo (PEP) downgraded to Hold from Buy at Deutsche Bank with analyst Stephen Powers viewing the current valuation as a "bit bubbly." 5. Watsco (WSO), Fastenal (FAST), and Grainger (GWW) downgraded to Neutral from Outperform at Baird with analyst David Manthey saying he thinks the cycle and individual company results could remain solid for quarters or years to come, but he believes the cycle is in its later stages, thereby elevating risks to gross margins, rising labor costs, and earnings deceleration in 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/09/18
JEFF
08/09/18
NO CHANGE
Target $13
JEFF
Hold
Belmond should rally 'sharply' on strategic review, says Jefferies
Jefferies analyst David Katz expects Belmond shares "to be up sharply" on news that the company will explore strategic alternatives. The analyst reiterates his view that the market value of Belmond's underlying assets is considerably higher than that which the earnings potential of the company could support. He keeps a Hold rating on the stock with a $13 price target. Belmond in premarket trading is up 26% to $14.05.

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