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IRCP

Irsa Propiedades

$27.25

(0.00%)

, SFUN

Fang Holdings

$2.82

-0.19 (-6.31%)

10:20
08/29/18
08/29
10:20
08/29/18
10:20

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Irsa Propiedades (IRCP) downgraded to Neutral from Overweight at JPMorgan with analyst Marcelo Motta citing the company's weaker outlook. 2. Fang Holdings (SFUN) downgraded to Neutral from Outperform at Credit Suisse. 3. Connecticut Water (CTWS) downgraded to Sell from Neutral at UBS with analyst Daniel Ford saying he sees the stock's risk/reward as skewed to the downside. 4. Bank of Nova Scotia (BNS) downgraded to Hold from Buy at Canaccord. 5. Capital Product (CPLP) and Realty Income (O) were downgraded to Neutral from Buy at Janney Montgomery Scott. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

IRCP

Irsa Propiedades

$27.25

(0.00%)

SFUN

Fang Holdings

$2.82

-0.19 (-6.31%)

CTWS

Connecticut Water

$68.90

0.04 (0.06%)

BNS

Bank of Nova Scotia

$58.71

-0.77 (-1.29%)

CPLP

Capital Product

$3.02

-0.01 (-0.33%)

O

Realty Income

$58.56

-0.51 (-0.86%)

  • 11

    Sep

IRCP Irsa Propiedades
$27.25

(0.00%)

11/27/17
JPMS
11/27/17
INITIATION
Target $77
JPMS
Overweight
Irsa Propiedades initiated with an Overweight at JPMorgan
JPMorgan analyst Marcelo Motta started Irsa Propiedades with an Overweight rating and $77 price target. The analyst views the company as a pure property player in Argentina and believes the current valuation is attractive.
08/29/18
JPMS
08/29/18
DOWNGRADE
Target $34
JPMS
Neutral
Irsa Propiedades downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Marcelo Motta downgraded Irsa Propiedades Comerciales to Neutral and lowered his price target for the shares to $34 from $56 citing the company's weaker outlook.
03/12/18
FBCO
03/12/18
INITIATION
Target $86
FBCO
Outperform
Irsa Propiedades initiated with an Outperform at Credit Suisse
Credit Suisse analyst Luis Stacchini assumed coverage on Irsa Propiedades with an Outperform and $86 price target.
SFUN Fang Holdings
$2.82

-0.19 (-6.31%)

08/29/18
JPMS
08/29/18
INITIATION
Target $3.6
JPMS
Neutral
Fang Holdings assumed with a Neutral at JPMorgan
JPMorgan analyst Binbin Ding assumed coverage of Fang Holdings with a Neutral rating and $3.60 price target.
08/29/18
FBCO
08/29/18
DOWNGRADE
FBCO
Neutral
Fang Holdings downgraded to Neutral from Outperform at Credit Suisse
CTWS Connecticut Water
$68.90

0.04 (0.06%)

06/22/18
06/22/18
UPGRADE
Target $63

Buy
Eversource upgraded to Buy following pullback at Janney Montgomery Scott
As previously reported, Janney Montgomery Scott analyst Michael Gaugler upgraded Eversource (ES) to Buy from Neutral, stating that he now consider the shares attractive following the stock's "meaningful" pullback. While the company "has certainly seen some project development setbacks," the Northern Pass Project opportunity still remains active, FERC may increase the allowable ROE on transmission projects at some point and the company's bid for Connecticut Water Service (CTWS) could, if successful, provide additional investments not yet baked in, Gaugler tells investors. He raised his fair value estimate on the stock to $63 from $60.
04/26/18
JANY
04/26/18
DOWNGRADE
JANY
Neutral
SJW Corp. downgraded to Neutral from Buy at Janney Capital
Janney Capital cited SJW Group (SJW) valuation after California Water Service Group (CWT) confirmed that it proposed to acquire SJW for $68.25 per share. Subsequently, SJW rejected Cal Water's offer, having determined that it was not a superior proposal as defined in SJW's merger agreement with Connecticut Water Service (CTWS).
08/29/18
UBSW
08/29/18
DOWNGRADE
Target $66
UBSW
Sell
Connecticut Water downgraded to Sell from Neutral at UBS
UBS analyst Daniel Ford downgraded Connecticut Water Service to Sell while raising his price target for the shares to $66 from $64. The analyst sees the stock's risk/reward as skewed to the downside. Connecticut Water is currently trading at a 1.5% discount to the $70 acquisition price with the deal still lacking shareholder and regulatory approvals, Ford tells investors in a research note. He believes a topping bid is unlikely given the 33% premium the offer price represents.Further, the analyst notes that his research suggests around 30% of announced electric utility merger transactions fail to close. Should the deal break, Ford sees the first level of share support at $66, with downside risk as low as $60.
03/08/18
UBSW
03/08/18
INITIATION
Target $53
UBSW
Neutral
Connecticut Water initiated with a Neutral at UBS
UBS analyst Daniel Ford started Connecticut Water with a Neutral rating and $53 price target.
BNS Bank of Nova Scotia
$58.71

-0.77 (-1.29%)

08/29/18
ADAM
08/29/18
DOWNGRADE
ADAM
Hold
Bank of Nova Scotia downgraded to Hold from Buy at Canaccord
06/11/18
RBCM
06/11/18
DOWNGRADE
RBCM
Sector Perform
Bank of Nova Scotia downgraded to Sector Perform from Outperform at RBC Capital
06/08/18
NATB
06/08/18
DOWNGRADE
NATB
Sector Perform
Bank of Nova Scotia downgraded to Sector Perform from Outperform at National Bank
06/05/18
BOFA
06/05/18
DOWNGRADE
BOFA
Neutral
Bank of Nova Scotia downgraded to Neutral from Buy at BofA/Merrill
CPLP Capital Product
$3.02

-0.01 (-0.33%)

08/29/18
08/29/18
DOWNGRADE
Target $3.5

Neutral
Capital Product Partners downgraded to Neutral at Janney Montgomery Scott
As previously reported, Janney Montgomery Scott analyst Michael Gyure downgraded Capital Product Partners to Neutral from Buy as he has become more concerned with market related headwinds that could negatively impact revenues and margins in 2019. He is worried about vessels with contracts tied to market rates, as well as those that expire over the next 12 months, which he sees remaining flat or moving lower due to continued oversupply in the tanker market, Gyure tells investors. He lowered his fair value estimate on Capital Product units to $3.50 from $4.50.
12/18/17
JEFF
12/18/17
INITIATION
Target $5
JEFF
Buy
Capital Product assumed with a Buy at Jefferies
Jefferies analyst Randy Giveans assumed coverage of Capital Product Partners with a Buy rating and $5 price target. The analyst assumed coverage of 23 energy maritime shipping names saying the industry is "primed for significant improvement." For the first time in 10 years, the analyst expects capacity shortages with demand growth to outpace supply growth in every shipping sector in 2018.
08/29/18
JANY
08/29/18
DOWNGRADE
JANY
Neutral
Capital Product downgraded to Neutral from Buy at Janney Montgomery Scott
O Realty Income
$58.56

-0.51 (-0.86%)

08/29/18
08/29/18
DOWNGRADE
Target $59

Neutral
Realty Income downgraded to Neutral on valuation at Janney Montgomery Scott
As previously reported, Janney Montgomery Scott analyst Robert Stevenson downgraded Realty Income to Neutral from Buy, calling his change in rating "solely valuation driven" following a roughly 20% run-up in the stock over the last 6 months. He still likes Realty Income's business model, but would wait for a more attractive entry point with the shares approaching his $59 fair value estimate, Stevenson tells investors.
08/29/18
JANY
08/29/18
DOWNGRADE
JANY
Neutral
Realty Income downgraded to Neutral from Buy at Janney Montgomery Scott
07/10/18
MUFG
07/10/18
UPGRADE
Target $62
MUFG
Overweight
Realty Income upgraded to Overweight from Neutral at MUFG
MUFG analyst Karin Ford upgraded Realty Income to Overweight and raised her price target for the shares to $62 from $54. The company's "defensive attributes" are favorable given the potential economic risk ahead, Ford tells investors in a research note. Further, the analyst believes Realty Income's "underlevered" balance sheet and continuing ability to raise "well-priced" capital should enable it to generate external growth.
05/10/18
DADA
05/10/18
NO CHANGE
Target $65
DADA
Buy
Realty Income price target raised to $65 from $57 at DA Davidson
DA Davidson analyst Barry Oxford raised his price target on Realty Income to $65 after its Q1 earnings, saying the 3.9% annual rise in the adjusted FFO "continued a trend of solid growth". The analyst also cites the company's 82nd continued dividend increase, adding that the payout ratio is still conservative and should lead to further distribution growth. Oxford keeps his Buy rating on Realty Income.

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MSC Industrial

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Kingsway Financial

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AWK

American Water

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PRK

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SCHW

Charles Schwab

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MMNFF

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TKC

Turkcell

$5.49

-0.175 (-3.09%)

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FCCY

1st Constitution Bancorp

$18.07

-0.14 (-0.77%)

11:05
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QUMU

Qumu

$2.83

-0.035 (-1.22%)

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