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GTX

Garrett Motion

$18.23

-0.27 (-1.46%)

, ACET

Aceto

$2.23

-0.04 (-1.76%)

04:55
10/02/18
10/02
04:55
10/02/18
04:55

Garrett Motion to replace Aceto in S&P 600 at open on October 2

Honeywell (HON) is spinning-off Garrett Motion (GTX) to shareholders in a deal expected to be completed on October 1 pending final conditions. Post spin-off, Honeywell will remain in the S&P 100 and 500. Aceto is ranked near the bottom of the S&P SmallCap 600 and is no longer representative of the small-cap market space.

GTX

Garrett Motion

$18.23

-0.27 (-1.46%)

ACET

Aceto

$2.23

-0.04 (-1.76%)

HON

Honeywell

$166.49

0.07 (0.04%)

  • 16

    Oct

  • 19

    Oct

GTX Garrett Motion
$18.23

-0.27 (-1.46%)

10/01/18
RBCM
10/01/18
INITIATION
Target $14
RBCM
Underperform
Garrett Motion initiated with an Underperform at RBC Capital
RBC Capital analyst Joseph Spak initiated Garrett Motion (GTX) with an Underperform rating and a price target of $14. The analyst says that while this pure-play company looks to "benefit from increased gasoline turbocharger penetration" after getting spun off from Honeywell (HON), he sees operational margin pressure from its diesel/gas mix shift. Spak adds that Garrett Motion is "positioned poorly" amid the long-term shift to battery electric vehicle technology, while also citing its high leverage and free cash flow pressure from its required asbestos liability payments to Honeywell.
10/01/18
10/01/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. KEYW (KEYW) initiated with an Outperform at William Blair. 2. Garrett Motion (GTX) initiated with an Underperform at RBC Capital. 3. WillScot (WSC) initiated with an Overweight at Morgan Stanley. 4. Bitauto (BITA) resumed with a Hold at 86 Research. 5. SB One Bancorp (SBBX) initiated with an Outperform at Boenning & Scattergood. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
ACET Aceto
$2.23

-0.04 (-1.76%)

04/19/18
ADAM
04/19/18
DOWNGRADE
Target $2
ADAM
Sell
Aceto double downgraded to Sell at Canaccord
As reported previously, Canaccord analyst Dewey Steadman downgraded Aceto two notches, to Sell from Buy, citing a rapid degradation of the company's asset-light business model in the wake of continued pressures for commoditized generics. The company's core human health business has been under significant pressure and has been unable to swiftly adapt to market conditions, said Steadman, who lowered his price target to $2 from $10 on Aceto shares after the company last night said it was suspending further guidance and reducing its dividend.
04/19/18
WELS
04/19/18
NO CHANGE
WELS
Wells says bottom has not been reached in generics pricing
After Aceto (ACET) cited the continued intense competitive and pricing pressures in the generic industry when withdrawing its guidance last night, and Novartis (NVS) this morning reported that net sales at its generic unit Sandoz dropped 4% in the quarter, Wells Fargo analyst Davis Maris says he's not ready to call the bottom in generics pricing. Those that have are premature, Maris tells investors in a research note titled "Negative Read Throughs For Generics Continue." The Aceto and Sandoz pricing news shows the data continue to be negative for U.S. generic industry pricing, the analyst contends. He sees a negative read-through for companies with large U.S. commodity generic exposure, such as Teva (TEVA) and Mylan (MYL).
04/19/18
CHLM
04/19/18
DOWNGRADE
CHLM
Sell
Aceto downgraded to Sell from Hold at Craig-Hallum
04/19/18
04/19/18
DOWNGRADE

Sell
Craig-Hallum downgrades Aceto to Sell after guidance withdrawn, dividend cut
As previously reported, Craig-Hallum analyst Matt Hewitt downgraded Aceto to Sell from Hold after the company last night announced the resignation of its CFO, suspended FY18 guidance, reported asset impairment charges and said it expects to make a "significant reduction" in its dividend. The suspension of guidance and the cut to the dividend suggest the competitive pressures Aceto has been experiencing in oral solids and APIs have worsened, said Hewitt, who believes the company could raise $150M-$200M to reduce its debt balance if it were to sell off the Performance Chemicals segment. Hewitt, who previously had an $8 price target on the stock, removed the target as he awaits visibility on the company's options to stabilize its business.
HON Honeywell
$166.49

0.07 (0.04%)

09/06/18
JPMS
09/06/18
NO CHANGE
Target $175
JPMS
Overweight
JPMorgan positive on Honeywell into 2019, ups price target to $175
JPMorgan analyst Stephen Tusa says shares of Honeywell set up as one of the "best positioned stories into year-end as 2019 comes into view." Post the disclosure of details on moving parts of the coming spins, the analyst raised his price target for the shares to $175 from $170 and keeps an Overweight rating on the name. In a research note titled "What Dilution? Earnings Upside and Re-rating Substantially Exceeds 'Spin Purgatory' Bear Case," Tusa contends that the remaining company deserves a higher multiple.
09/17/18
BARD
09/17/18
NO CHANGE
Target $187
BARD
Outperform
Honeywell's flexible balance sheet overlooked, says Baird
Baird analyst Peter Arment met with Honeywell management and came away reiterating the company is well positioned for sustained healthy organic growth, continued margin expansion, and robust free cash flow that will bolster its already stellar balance sheet. The analyst said the company's fortress is its balance sheet, which is being overlooked by investors but can provide flexibility for M&A and protection from the next downturn. Arment reiterated his Outperform rating and $187 price target on Honeywell shares.
09/26/18
OPCO
09/26/18
NO CHANGE
Target $184
OPCO
Outperform
Honeywell price target raised to $184 from $172 at Oppenheimer
Oppenheimer analyst Christopher Glynn raised his price target for Honeywell to $184 from $172 and adjusted 2019E EPS for best estimate without the pending spinoffs of Garrett and Resideo. The analyst continues to view ongoing Honeywell as a premium asset, with excellent proven financial controls and planning. He reiterates an Outperform rating on the shares.

TODAY'S FREE FLY STORIES

UAL

United Continental

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-2.27 (-2.65%)

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LUV

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DAL

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PLL

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GSBC

Great Southern Bancorp

$49.85

-0.7 (-1.38%)

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BAYRY

Bayer

$0.00

(0.00%)

19:08
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BLK

BlackRock

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EHTH

eHealth

$45.38

-0.85 (-1.84%)

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IBM

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CNMD

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PUMP

ProPetro Holding

$14.96

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AMTD

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TBNK

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$26.90

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APHA

Aphria

$7.07

0.41 (6.16%)

TSE

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$48.54

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COF

Capital One

$83.38

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QUOT

Quotient Technology

$10.99

-0.55 (-4.77%)

IBKR

Interactive Brokers

$51.92

-2.82 (-5.15%)

PTCT

PTC Therapeutics

$33.08

-1.245 (-3.63%)

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APHA

Aphria

$7.07

0.41 (6.16%)

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LOGI

Logitech

$33.69

0.24 (0.72%)

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  • 22

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WBA

Walgreens Boots Alliance

$71.59

-0.81 (-1.12%)

18:39
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  • 25

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SMBC

Southern Missouri Bancorp

$32.22

-0.29 (-0.89%)

18:35
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Earnings
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Z

Zillow

$31.41

-2.52 (-7.43%)

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VIA

Viacom

$32.44

-0.71 (-2.14%)

, VIAB

Viacom

$29.22

-0.87 (-2.89%)

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$32.44

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VIAB

Viacom

$29.22

-0.87 (-2.89%)

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  • 05

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GOOG

Alphabet

$1,070.72

-27.53 (-2.51%)

, GOOGL

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$1,078.68

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Alphabet

$1,070.72

-27.53 (-2.51%)

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Alphabet Class A

$1,078.68

-28.24 (-2.55%)

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VIA

Viacom

$32.44

-0.71 (-2.14%)

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Viacom

$29.22

-0.87 (-2.89%)

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Viacom

$32.44

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VIAB

Viacom

$29.22

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AZZ

AZZ Inc.

$45.09

-0.67 (-1.46%)

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TSLA

Tesla

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  • 30

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NCOM

National Commerce

$39.07

-0.03 (-0.08%)

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IBM

IBM

$122.34

-1.49 (-1.20%)

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  • 22

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UAL

United Continental

$83.34

-2.27 (-2.65%)

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United Continental says FAA initiated ground stop for all Newark traffic 

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  • 04

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AQMS

Aqua Metals

$2.16

0.07 (3.35%)

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DKS

Dick's Sporting

$33.87

-0.375 (-1.10%)

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  • 03

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BA

Boeing

$357.91

-6.88 (-1.89%)

, LLL

L3 Technologies

$178.72

-4.63 (-2.53%)

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$357.91

-6.88 (-1.89%)

LLL

L3 Technologies

$178.72

-4.63 (-2.53%)

LDOS

Leidos

$56.13

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NOC

Northrop Grumman

$264.70

-2.84 (-1.06%)

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ATXI

Avenue Therapeutics

$6.35

-0.14 (-2.16%)

17:45
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UCFC

United Community Financial

$9.14

(0.00%)

17:44
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01/22
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17:44
Earnings
United Community Financial reports Q4 EPS 19c, consensus 20c »

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  • 23

    Jan

FMBI

First Midwest

$21.88

-0.21 (-0.95%)

17:39
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01/22
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Earnings
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