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ADNT

Adient

$45.42

-0.38 (-0.83%)

, DCT

DCT Industrial

$67.00

-2.04 (-2.95%)

04:55
08/22/18
08/22
04:55
08/22/18
04:55

Adient to replace DCT Industrial in S&P 400 at open on 8/22

S&P 500 constituent ProLogis (PLD) is acquiring DCT Industrial Trust (DCT) in a deal expected to be completed soon pending final conditions.

ADNT

Adient

$45.42

-0.38 (-0.83%)

DCT

DCT Industrial

$67.00

-2.04 (-2.95%)

PLD

Prologis

$65.74

-1.99 (-2.94%)

ADNT Adient
$45.42

-0.38 (-0.83%)

07/27/18
BARD
07/27/18
UPGRADE
Target $52
BARD
Neutral
Adient upgraded to Neutral at Baird
As reported previously, Baird analyst David Leiker upgraded Adient to Neutral form Underperform. The analyst cited the sequential stability in the company's results, stating that he now sees upside opportunity and downside risk being in balance. Leiker, who said visibility and execution on action plans to improve operational performance are needed to drive more upside, has a $52 price target on Adient shares.
07/31/18
MSCO
07/31/18
DOWNGRADE
MSCO
Underweight
Adient downgraded to Underweight from Equal Weight at Morgan Stanley
07/31/18
07/31/18
UPGRADE

Overweight
Lear upgraded to Overweight, Adient cut to Underweight at Morgan Stanley
As previously reported, Morgan Stanley analyst Armintas Sinkevicius upgraded Lear (LEA) to Overweight from Equal Weight with the stock trading at a discount to Adient (ADNT), which he also downgraded to Underweight this morning. Lear has a strong operational track record and history of "beat and raise quarters" and Sinkevicius sees upside to estimates and the stock's multiple, he tells investors. Meanwhile, Adient management has recently lowered guidance for the Seating business due to further operational challenges, leaving the analyst seeing limited upside to numbers in the near term, he tells investors. Sinkevicius lowered his price target on Adient shares to $43 from $50 and raised his price target on Lear to $214 from $209.
07/31/18
07/31/18
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. CBS (CBS) downgraded to Market Perform from Outperform at Cowen with analyst Doug Creutz saying the combination of the legal fight with National Amusements, the potential for a recombination with Viacom (VIAB) and the allegations of sexual harassment against CEO Les Moonves create "too many unquantifiable variables." 2. Caterpillar (CAT) downgraded to Equal Weight from Overweight at Barclays with analyst Adam Seiden saying the company's largest end-markets are no longer at trough. Further, he believes Caterpillar's second half of 2018 price initiatives, directed towards offsetting supply chain and materials cost increases, will limit its ability to expand margins. 3. WisdomTree (WETF) downgraded to Sell from Neutral at Citi with analyst William Katz saying he believes WisdomTree's price-to-earnings multiple can further contract amid mixed flow dynamics and flat earnings growth prospects out to 2020. 4. Adient (ADNT) downgraded to Underweight from Equal Weight at Morgan Stanley. 5. Tupperware Brands (TUP) downgraded to Sell from Hold at Argus with analyst Deborah Ciervo citing the company's disappointing Q2 revenue and reduced outlook for FY18. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
DCT DCT Industrial
$67.00

-2.04 (-2.95%)

05/14/18
05/14/18
DOWNGRADE

Market Perform
DCT Industrial downgraded to Market Perform at Wells Fargo
As previously reported, Wells Fargo analyst Blaine Heck downgraded DCT Industrial (DCT) to Market Perform from Outperform, while raising his price target on the shares to $67 from $65, given the company's expected acquisition by Prologis (PLD).
05/14/18
WELS
05/14/18
DOWNGRADE
WELS
Market Perform
DCT Industrial downgraded to Market Perform from Outperform at Wells Fargo
05/01/18
RAJA
05/01/18
UPGRADE
RAJA
Market Perform
DCT Industrial upgraded to Market Perform from Underperform at Raymond James
04/30/18
JMPS
04/30/18
NO CHANGE
JMPS
Market Perform
Other bidders unlikely for DCT Industrial, says JMP Securities
After DCT Industrial (DCT) announced an agreement to be acquired by Prologis (PLD) in a stock-for-stock transaction valued at $8.4B, including debt, JMP Securities analyst Mitch Germain said he does not expect another bidder to emerge given the "full" pricing for the deal. He does, however, anticipate the potential for additional sector M&A activity, citing the pricing dynamic between public and private real estate, record levels of private equity dry powder on the sidelines and "readily available" debt financing. Germain has a Market Perform rating on DCT Industrial shares.
PLD Prologis
$65.74

-1.99 (-2.94%)

04/30/18
KEYB
04/30/18
NO CHANGE
KEYB
Prologis acquisition of DCT Industrial an affirmation of infill strategy, says KeyBanc
KeyBanc analyst Craig Mailman notes that Prologis (PLD) announced plans to acquire DCT (DCT) for $8.4B in a stock for stock deal at a 4.3% going-in cap rate. The analyst views the transaction as an affirmation of the infill strategy, as DCT represents the next best domestic platform among the larger industrial REIT portfolios.
04/30/18
JEFF
04/30/18
NO CHANGE
Target $57
JEFF
Hold
Prologis paid a steep price for DCT Industrial, says Jefferies
Prologis (PLD) is paying a steep price to acquire DCT Industrial's (DCT) high-quality U.S. warehouse portfolio, but management expects 6c-8c of accretion after $80M of cost synergies, Jefferies analyst Jonathan Peters tells investors in a research note. At first glance, the cost synergy estimates appear aggressive, the analyst adds. He believes, however, that the combination of the well-located portfolios should drive solid organic revenue growth.

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