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IHS Markit

$54.07

0.1 (0.19%)

, MFC

Manulife Financial

$18.01

0.125 (0.70%)

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

National Asociation for Business Economics to hold annual meeting

60th NABE Annual Meeting will be held in Boston on September 29-October 2.

INFO

IHS Markit

$54.07

0.1 (0.19%)

MFC

Manulife Financial

$18.01

0.125 (0.70%)

SPGI

S&P Global

$199.42

4.07 (2.08%)

EXPGY

Experian

$0.00

(0.00%)

MPC

Marathon Petroleum

$82.43

1.85 (2.30%)

COP

ConocoPhillips

$79.87

2.48 (3.20%)

WFC

Wells Fargo

$52.26

-0.3 (-0.57%)

CLGX

CoreLogic

$48.27

-1.12 (-2.27%)

F

Ford

$9.32

0.075 (0.81%)

FNMA

Fannie Mae

$0.00

(0.00%)

KR

Kroger

$28.75

-0.36 (-1.24%)

CX

Cemex

$7.12

0.075 (1.07%)

C

Citi

$71.95

0.2 (0.28%)

PNC

PNC Financial

$136.03

-0.16 (-0.12%)

CFG

Citizens Financial

$38.36

-0.2 (-0.52%)

MS

Morgan Stanley

$46.64

0.07 (0.15%)

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INFO IHS Markit
$54.07

0.1 (0.19%)

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.
06/27/18
RHCO
06/27/18
NO CHANGE
Target $61
RHCO
Buy
IHS Markit price target raised to $61 from $54 at SunTrust
SunTrust analyst Andrew Jeffrey raised his price on IHS Markit to $61 and reiterated his Buy rating, saying the company is an "increasingly visible Info Services growth story" offering "above-average" leverage and "robust" free cash flows". Jeffrey cites IHS Markit's investment in data and technology, especially in transportation, as it looks to "embed itself" in its customers' decision process. He believes that the company can sustain a high-single-digit organic revenue growth rate through geographic expansion, new verticals, and added digital market share.
08/29/18
PIPR
08/29/18
NO CHANGE
PIPR
Piper calls IHS Markit, S&P Global top picks in Information Services
Piper Jaffray analyst Peter Appert calls IHS Markit (IHS) and S&P Global (SPGI) his top picks in the Information Services sector. Dun & Bradstreet's (DNB) pending sale to a private equity group and Nielsen's (NLSN) strategic review refocuses investor attention on M&A activity in the sector, Appert tells investors in a research note. He says that while "rich" transaction values provide an "intriguing valuation backstop for the group," he continues to focus on operating fundamentals as the key driver of stock performance.
09/26/18
RHCO
09/26/18
NO CHANGE
Target $66
RHCO
Buy
IHS Markit price target raised to $66 from $61 at SunTrust
SunTrust analyst Andrew Jeffrey raised his price target on IHS Markit to $66 and kept his Buy rating, saying the company is "positioned to capitalize on leading positions across its markets". The analyst cites IHS Markit's "ongoing global Resources rebound, comprehensive Transportation workflows and an apparently resurgent Financial segment". Jeffrey adds that he expects the company's EBITDA multiples to expand further to match valuations of other information services leaders, raising his FY19 EBITDA view to $1.79B from $1.67B. The analyst further notes that his expected outlook assumes over 400bps of EBITDA margin expansion over the long term.
MFC Manulife Financial
$18.01

0.125 (0.70%)

07/10/18
EVER
07/10/18
INITIATION
EVER
In Line
Manulife Financial initiated with an In Line at Evercore ISI
01/24/18
NATB
01/24/18
UPGRADE
NATB
Outperform
Manulife Financial upgraded to Outperform from Sector Perform at National Bank
04/12/18
TDSI
04/12/18
UPGRADE
TDSI
Buy
Manulife Financial upgraded to Buy from Hold at TD Securities
05/03/18
CIBC
05/03/18
UPGRADE
CIBC
Outperformer
Manulife Financial upgraded to Outperformer from Neutral at CIBC
SPGI S&P Global
$199.42

4.07 (2.08%)

08/01/18
ATLE
08/01/18
DOWNGRADE
ATLE
Neutral
S&P Global downgraded to Neutral from Overweight at Atlantic Equities
02/14/18
ARGS
02/14/18
NO CHANGE
Target $210
ARGS
Buy
S&P Global price target raised to $210 from $178 at Argus
Argus analyst John Eade raised his price target on S&P Global to $210 and kept his Buy rating following its recent Q4 earnings beat. Eade notes that the company is faced with risks related to the timing and magnitude of interest rate tightening at the Fed and also the risks of rising defaults in the corporate bond market, but believes the management team - which consistently "underpromises and overdelivers" with financial results - can navigate those challenges.
08/31/18
STFL
08/31/18
NO CHANGE
STFL
Hold
Moody's, S&P may underperform if debt issuance trends continue, says Stifel
Stifel analyst Shlomo Rosenbaum said that it appears August has been a particularly weak month for debt issuance, which means an "exceedingly strong September" will be needed to achieve consensus estimates for the respective ratings businesses of Moody's (MCO) and S&P Global (SPGI). Structured finance deals, which are particularly lucrative, have been offsetting year-over-year issuance declines in other parts of the ratings business, but the dollar and issuance volumes in the structured securities and loans areas are both down materially quarter-to-date, added Rosenbaum. He maintains Hold ratings on both Moody's and S&P Global.
EXPGY Experian
$0.00

(0.00%)

04/23/18
DBAB
04/23/18
UPGRADE
DBAB
Buy
Experian upgraded to Buy from Sell at Deutsche Bank
Deutsche Bank double upgraded Experian to Buy from Sell and raised its price target for the shares to 1750p from 1380p.
12/14/17
LEHM
12/14/17
DOWNGRADE
Target $128
LEHM
Equal Weight
Equifax downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Manav Patnaik downgraded Equifax (EFX) to Equal Weight while raising his price target for the shares to $128 from $115. The analyst believes the shares will be range bound in 2018 until investors can better understand the extent of the market share losses from the data breach. Patnaik also removed "Top Pick" status from TransUnion (TRU) but keeps an Overweight rating on the shares. Among Credit Bureaus, the analyst prefers both TransUnion and Experian (EXPGY) over Equifax.
01/08/18
UBSW
01/08/18
UPGRADE
UBSW
Buy
Experian upgraded to Buy from Neutral at UBS
UBS analyst Rory McKenzie upgraded Experian to Buy with an increased price target of 1,900p. The analyst sees the company's organic growth accelerating in 2018.
01/10/18
FBCO
01/10/18
NO CHANGE
FBCO
Outperform
Experian added to European Focus List at Credit Suisse
Credit Suisse analyst Andy Grobler is adding Experian to his firm's European Focus List as he expects that organic growth will accelerate as the U.S. Consumer division returns to growth, Brazil improves and U.S. Credit Services benefits from contract wins and stable end markets. The analyst reiterates an Outperform rating on the shares.
MPC Marathon Petroleum
$82.43

1.85 (2.30%)

05/29/18
05/29/18
UPGRADE
Target $113

Outperform
Marathon Petroleum upgraded to Outperform from at Wells Fargo
As previously reported, Wells Fargo analyst Roger Read upgraded Marathon Petroleum to Outperform from Market Perform and raised his price target on the shares to $113 from $80. The analyst says the IMO 2020 low sulfur marine fuel rule in his estimation will be a positive for the U.S. Independent Refiners and believes possesses the most potential upside.
05/29/18
WELS
05/29/18
UPGRADE
WELS
Outperform
Marathon Petroleum upgraded to Outperform from Market Perform at Wells Fargo
08/02/18
MZHO
08/02/18
INITIATION
Target $158
MZHO
Neutral
Andeavor initiated with a Neutral at Mizuho
Mizuho analyst Paul Sankey started Andeavor (ANDV) with a Neutral rating and $158 price target. The analyst believes Andeavor shares are pegged to Marathon Petroleum's (MPC) offer of 1.87 Marathon share or $152 cash.
08/01/18
MZHO
08/01/18
INITIATION
Target $95
MZHO
Buy
Marathon Petroleum initiated with a Buy at Mizuho
Mizuho initiated Marathon Petroleum with a Buy and $95 price target.
COP ConocoPhillips
$79.87

2.48 (3.20%)

09/20/18
RBCM
09/20/18
DOWNGRADE
RBCM
Sector Perform
ConocoPhillips downgraded to Sector Perform from Outperform at RBC Capital
09/20/18
RBCM
09/20/18
DOWNGRADE
Target $90
RBCM
Sector Perform
ConocoPhillips downgraded to Sector Perform at RBC Capital on peer valuation
As reported earlier, RBC Capital analyst Scott Hanold downgraded ConocoPhillips to Sector Perform from Outperform but raised his price target to $90 from $85. The analyst says that shareholders have already been rewarded by the management's model to deliver financial results, free cash flows, and capital to shareholders. With the stock up about 40% year-t0-date vs. 10%-15% peer average, Hanold says that peers have the potential for a greater rate of change as part of his otherwise "constructive" outlook on oil names.
09/06/18
09/06/18
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. Histogenics (HSGX) downgraded to Neutral from Buy at BTIG with analyst Ryan Zimmerman citing Histogenics announcement that its Phase 3 trial comparing NeoCart to microfracture surgery missed its primary endpoint. 2. Chevron (CVX) and ConocoPhillips (COP) were downgraded to Neutral from Buy at BofA/Merrill. 3. Franklin Resources (BEN) downgraded to Underweight from Neutral at JPMorgan with analyst Kenneth Worthington saying he believes the more recent weakness in emerging markets, and in particular in emerging market debt, will weigh on both Franklin's organic growth and earnings potential. 4. HealthEquity (HQY) downgraded to Neutral from Buy at BofA/Merrill with analyst Allen Lutz saying recent share strength fully discounts upside from interest rates and potential upside from a proposed Senate HSA bill that could add 10-15% to industry AUM. 5. Rio Tinto (RIO) downgraded to Hold from Buy at Investec. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/01/18
GSCO
10/01/18
DOWNGRADE
GSCO
Neutral
ConocoPhillips downgraded to Neutral from Buy at Goldman Sachs
WFC Wells Fargo
$52.26

-0.3 (-0.57%)

09/28/18
UBSW
09/28/18
NO CHANGE
Target $63
UBSW
Buy
Wells Fargo app download data suggests no momentum slowdown, says UBS
UBS analyst Saul Martinez reassessed Wells Fargo client engagement and employee sentiment and found that app download data was encouraging and showed no slowdown in momentum. Employee sentiment, however, showed a material weakening. The analyst said meaningful improvements in earnings power and profitability require revenue to stabilize and the recent share weakness may be due to concerns that business momentum and top line growth will continue to lag. Martinez maintained his Buy rating and $63 price target on Wells Fargo shares.
09/25/18
WOLF
09/25/18
INITIATION
Target $71
WOLF
Outperform
Wells Fargo initiated with an Outperform at Wolfe Research
Wolfe Research analyst Steven Chubak initiated Wells Fargo with an Outperform and $71 price target.
09/17/18
EDJN
09/17/18
UPGRADE
EDJN
Buy
Wells Fargo upgraded to Buy from Hold at Edward Jones (Friday)
09/12/18
JPMS
09/12/18
NO CHANGE
JPMS
Underweight
Reported OCC rejection would be negative for Wells, says JPMorgan
According to Reuters, Office of the Comptroller of the Currency regulators have rejected Wells Fargo's plan to repay its auto customers who were pushed to buy unnecessary auto insurance, JPMorgan analyst Vivek Juneja tells investors in a research note. This rejection would be a negative for Wells as it may be required to spend more and take more time to satisfy regulators, the analyst writes. He also views the news negatively overall for the bank's ongoing regulatory issues. Juneja reiterates an Underweight rating on shares of Wells Fargo.
CLGX CoreLogic
$48.27

-1.12 (-2.27%)

04/27/18
COMP
04/27/18
UPGRADE
COMP
Neutral
CoreLogic upgraded to Neutral from Sell at Compass Point
02/06/18
02/06/18
DOWNGRADE

Sell
CoreLogic downgraded to Sell at Compass Point
As previously reported, Compass Point downgraded CoreLogic to Sell from Neutral and cut its price target to $43 from $49. Analyst Chris Gamaitoni said CoreLogic is the most sensitive to declining volume in as mortgage insurance and mortgage technology coverage. Further, with consumer confidence flat year-over-year and interest rates rising, Gamaitoni estimates the company cold miss 2019 estimates by 11.4%, making risk/reward "poor."
02/27/18
DBAB
02/27/18
NO CHANGE
Target $33
DBAB
Sell
CoreLogic 2018 outlook supports discounted multiple, says Deutsche Bank
Deutsche Bank analyst Kevin McVeigh believes CoreLogic's 2018 outlook supports a discounted valuation multiple. VSG will continue to underwhelm as large clients continue to diversify, more than offsetting new wins, McVeigh tells investors in a post-earnings research note. He believes "underwhelming fundamentals and challenging margin targets" warrant a more compressed multiple for the shares. The analyst keeps a Sell rating on CoreLogic with a $33 price target.
07/17/18
WOLF
07/17/18
INITIATION
Target $70
WOLF
Outperform
CoreLogic initiated with an Outperform at Wolfe Research
Wolfe Research analyst Darrin Peller initiated CoreLogic with an Outperform and $70 price target.
F Ford
$9.32

0.075 (0.81%)

08/20/18
MSCO
08/20/18
NO CHANGE
Target $15
MSCO
Overweight
Ford risks high, but so is potential reward, says Morgan Stanley
Morgan Stanley analyst Adam Jonas believes Ford announcing plans to spend $11B on restructuring and then canceling its investor day may have may have the unintended consequence of raising expectations for a "big bang" of action. While acknowledging the wide range of potential outcomes, Jonas has an estimate for how Ford could recognize its planned $11B in restructuring charges over a 3-5 year period to achieve annual cost reductions of about $4B, giving it a payback period of just under 3 years that would "usually [be] a very good use of capital" by automotive standards, he tells investors. Jonas maintains an Overweight rating on Ford with a $15 price target, contending that the "risks are high, but so is the potential reward."
09/10/18
SBSH
09/10/18
NO CHANGE
Target $9.9
SBSH
Neutral
Ford price target lowered to $9.90 from $10.50 at Citi
Citi analyst Itay Michaeli lowered his price target for Ford (F) to $9.90 to reflect restructuring-related calls on cash. The analyst keeps a Neutral rating on the shares and continues to maintain his preference for General Motors (GM). Ford faces both fundamental and perception problems, whereas GM just faces the latter, Michaeli tells investors in a research note. While the company must deal with some legitimate China and trade headwinds, the degree of erosion that's implied by the pullback in the shares is overdone, the analyst contends.
09/19/18
VERF
09/19/18
NO CHANGE
VERF
Sell
E-tron may not be 'Tesla killer,' but still a 'real risk,' says Vertical Group
After attending Audi's (AUDVF) launch event for its e-tron SUV, Vertical Group analyst Gordon Johnson said he sees Audi's foray in the EV space as "a real risk" to Tesla (TSLA) and other EV auto makers including Chevy (GM) and Ford (F). The Electrify America charging network, owned by a JV of Audi parent Volkswagen (VLKAY) and funded by "Dieselgate," positions Audi's fast-charging ambitions among the most robust, if not the most robust, in the U.S. currently, added Johnson. He does not see Audi's forthcoming e-tron as a "TSLA Killer," but does not "see it a stretch to think of it as a potential TSLA Model X killer," he concludes in his note to investors. Johnson keeps a Sell rating on Tesla shares.
09/26/18
LEHM
09/26/18
NO CHANGE
Target $11
LEHM
Equal Weight
Ford price target lowered to $11 from $12 at Barclays
In a research note titled "'Going Further' isn't further enough," Barclays analyst Brian Johnson lowered his price target for Ford Motor to $11 and $12 and keeps an Equal Weight rating on the name. Likely restructuring plans are not enough to get us interested, Johnson tells investors after Ford cancelled its investor day. Ford's plan borrows ideas from other manufacturers around shifting product toward trucks, exiting unattractive geographies and rationalizing architectures, the analyst contends. He says that even if successful, he sees little earnings upside and limited potential for multiple expansion for Ford shares.
FNMA Fannie Mae
$0.00

(0.00%)

12/22/17
KBWI
12/22/17
NO CHANGE
KBWI
Keefe Bruyette keeps $1 price targets on Fannie and Freddie
The Federal Housing Finance Agency, as conservator of Fannie Mae (FNMA) and Freddie Mac (FMCC), and the Department of the Treasury agreed to reinstate a $3B capital reserve amount under the Senior Preferred Stock Purchase Agreements for each of the companies beginning in Q4, Keefe Bruyette analyst Bose George told investors last night in a research note. The government-sponsored enterprises are still expected to incur deferred tax asset write-downs if the corporate tax rate falls to 21% from the current 35%, George points out. He estimates that the write-down will be $12B for Fannie Mae and $7B for Freddie Mac. The analyst does not see the reinstatement of the capital buffer as a change in policy towards the GSEs. As such, George makes no changes to his outlook on the shares and keeps Underperform ratings on both Fannie and Freddie with $1 price targets. Fannie is down 2% to $2.78 while Freddie is down 3% to $2.60 in morning trading.
KR Kroger
$28.75

-0.36 (-1.24%)

07/13/18
LOOP
07/13/18
NO CHANGE
Target $61
LOOP
Buy
United Natural Foods positioned for rise of online grocery, says Loop Capital
Loop Capital analyst Andrew Wolf kept his Buy rating and $61 price target on United Natural Foods, saying the company is best positioned to capitalize on the growing shopping trend of buying groceries online. The analyst notes that the company already supplies Whole Foods (AMZN) and Kroger (KR) with natural and specialty foods as well as health and beauty care goods. Wolf adds that United Natural Foods also offers "backstage capabilities and merchandising curation" that serve the broader market as well as independent natural retailers. The analyst further points to the company's 23% sales increase in e-commerce reported in its most recent quarter.
09/27/18
MSCO
09/27/18
NO CHANGE
MSCO
Walmart, Kroger to see margin pain from 'war of attrition,' says Morgan Stanley
Morgan Stanley analyst Simeon Gutman said food retail disruption is accelerating as both grocers and consumers head online and he projects that industry EBIT margins, which are "already slim at 3%," could shrink by nearly a third by 2023. He is incrementally more cautious on Kroger (KR) and has "meaningfully" lowered his EBIT and EPS forecasts, stating that while the company and Walmart (WMT) can both take share, "margin pain" is likely in the process of their "war of attrition" in grocery with Amazon (AMZN), each other and a number of additional competitors. Consensus estimates expect stable margins at Kroger and Walmart, which appears challenging to Gutman, he tells investors. The analyst keeps Equal Weight ratings on both traditional retailers and an Overweight rating on Amazon, arguing that it should be able to leverage Prime and its fast-growing high-margin businesses to invest more heavily while still driving higher profitability.
07/06/18
SBSH
07/06/18
INITIATION
SBSH
Buy
Kroger assumed with a Buy at Citi
Citi analyst Gregory Badishkanian assumed coverage of Kroger with a Buy rating. The analyst expects continued comp momentum driven by the completion of additional store optimization projects and the return to inflation.
09/10/18
CLVD
09/10/18
NO CHANGE
CLVD
Kroger Q2 sales slightly below consensus, says Cleveland Research
Cleveland Research said Kroger's Q2 sales appear slightly below consensus due to an increase in promotions to drive sales, which could lead to margin pressure, and said the channel is cautious on the the the sales trend outlook given recent weakness.
CX Cemex
$7.12

0.075 (1.07%)

08/16/18
08/16/18
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. AstraZeneca (AZN) downgraded to Hold from Buy at Jefferies with analyst Ian Hilliker citing valuation following the stock's outperformance since he upgraded it in March. 2. Cemex (CX) downgraded to Hold from Buy at HSBC with analyst Eduardo Altamirano saying Cemex's deleveraging remains intact, but the pace at which debt is converted to equity is slowing down due to weaker than expected pricing and volumes in most regions, combined with higher input costs. 3. Cenovus Energy (CVE) downgraded to Hold from Buy at Canaccord with analyst Dennis Fong saying cash flow valuation is in line versus the large-cap group, which he thinks is appropriate given the company's above-average heavy oil exposure, moderated production growth profile, and higher leverage. 4. Nanometrics (NANO) downgraded to Neutral from Buy at DA Davidson with analyst Thomas Diffely saying that after outperforming its peer group over the past few years, the stock now trades at a 40% premium to its peers. 5. Coty (COTY) downgraded to Underperform from Buy at BofA/Merrill with analyst Olivia Tong citing inconsistent execution and increasing disruption across the mass beauty segment. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/16/18
08/16/18
DOWNGRADE
Target $9

Hold
Cemex downgraded to Hold at HSBC
As previously reported, HSBC downgraded Cemex to Hold from Buy and lowered its price target to $7.70 from $9. Analyst Eduardo Altamirano said Cemex's deleveraging remains intact, but the pace at which debt is converted to equity is slowing down due to weaker than expected pricing and volumes in most regions, combined with higher input costs. Altamirano now sees near-term free cash flow equal for both equity and debt holders, limiting upside for equity holders.
08/16/18
HSBC
08/16/18
DOWNGRADE
HSBC
Hold
Cemex downgraded to Hold from Buy at HSBC
09/04/18
SBSH
09/04/18
NO CHANGE
Target $9.5
SBSH
Buy
Cemex worth $15 per share on asset-based valuation, says Citi
Citi analyst Dan McGoey, while continuing to favor a cash flow valuation analysis, says an asset-based valuation points to shares of Cemex being worth $15. The analyst estimates the gross value of Cemex's cement operations at $26B, the concrete division at $4B, Aggregates division at $1.7B, land and marine distribution terminals at $2B and its equity investments at $700M. The stock remains attractively valued under traditional multiples as well, McGoey tells investors in a research note. He keeps a Buy rating on Cemex with a price target of $9.50.
C Citi
$71.95

0.2 (0.28%)

09/25/18
WOLF
09/25/18
INITIATION
Target $91
WOLF
Outperform
Citi initiated with an Outperform at Wolfe Research
Wolfe Research analyst Steven Chubak initiated Citi with an Outperform and $91 price target.
07/27/18
RHCO
07/27/18
NO CHANGE
Target $240
RHCO
Buy
MasterCard price target raised to $240 from $215 at SunTrust
SunTrust analyst Andrew Jeffrey raised his price target on MasterCard to $240 and kept his Buy rating, saying the company is demonstrating expansion of global market share while posting a 14% Q2 volume growth. The analyst adds that while MasterCard has a higher valuation than PayPal (PYPL) and Visa (V) - a 10% relative EBITDA premium - it is justified and may even be too narrow given its superior growth sustainability and margin upside.
08/28/18
WELS
08/28/18
NO CHANGE
Target $100
WELS
Outperform
Citi to benefit from potential U.S.-Mexico trade deal, says Wells Fargo
Wells Fargo analyst Mike Mayo believes Citi could gain more than other large U.S. banks from a U.S.-Mexico trade deal given its ownership of the second largest bank in Mexico, Citibanamex. In his view, Citi's stock had been hurt on perceptions of the U.S. relationship with Mexico. At a minimum, any new trade deal could reflect the absence of a negative and, on the upside, new potential growth opportunities, he contends. Mayo reiterates an Outperform rating and $100 price target on the shares.
09/19/18
OPCO
09/19/18
NO CHANGE
OPCO
Outperform
U.S. banks 'in very good shape,' says Oppenheimer, favorites include BofA, Citi
Oppenheimer analyst Chris Kotowski tells investors in a research note that the U.S. banking group is on solid footing with balance sheets less risky than at any time over the last 33 years the firm covered the group and says his favorite bank stocks are Outperform-rated Bank of America (BAC), Citi (C), CIT (CIT) and Goldman Sachs (GS). However, Kotowski notes that banks are trading at an average relative P/E of just ~66% relative to the S&P 500 and returning to a historical avg valuation of 73%-80% range would imply over a thousand basis points of outperformance by the group. In his view, the U.S. banks are, on the whole, in "very good" shape.
PNC PNC Financial
$136.03

-0.16 (-0.12%)

06/14/18
RBCM
06/14/18
NO CHANGE
Target $170
RBCM
Top Pick
PNC Financial EPS view cut at RBC Capital on reduced mortgage banking outlook
RBC Capital analyst Gerard Cassidy lowered his PNC Financial FY18 EPS view to $10.51 from $10.60 and FY19 view to $11.32 from $11.46 after the recent commentary by the management that its Q2 mortgage banking revenues are tracking to be 12% lower than in Q1. The analyst keeps his Top Pick rating and $170 price target however, saying the bank is well positioned for higher interest rates that would expand its net interest income and also has a high 42% of the total component for its non-interest income. Cassidy adds that the regulatory environment benefits could also exceed his expectations.
07/20/18
OPCO
07/20/18
NO CHANGE
OPCO
Perform
Wells Fargo's next few earnings reports likely to be 'choppy,' says Oppenheimer
Oppenheimer analyst Chris Kotowski maintained a Perform rating on Wells Fargo (WFC) after recent meetings with CFO John Shrewsberry. In a research note to investors, Kotowski says there was nothing that shakes his view that the next few quarterly earnings reports are likely to still be "choppy," and notes that Shewsberry "readily acknowledged" that there was much work to be done to get the consent order lifted. At the same time, the analyst contends that shares are not trading at much of a discount versus other high performing banks like JPMorgan (JPM) and PNC (PNC) and says he favors companies that have lower but rising ROTCEs that are trading near TBV, especially Citi (C), CIT (CIT) and Goldman (GS).
05/30/18
BARD
05/30/18
NO CHANGE
Target $153
BARD
Outperform
PNC Financial added as Fresh Pick at Baird
Baird analyst David George said the weakness in PNC Financial is a buying opportunity and said it screens as one of the better values among regional banks. The analyst likes the bank's competitive positioning, solid intermediate-term outlook, and its current valuation. George reiterated his Outperform rating and $153 price target on PNC Financial shares.
04/16/18
BARD
04/16/18
NO CHANGE
Target $153
BARD
Outperform
PNC Financial weakness overdone, says Baird
Baird analyst David George said PNC Financial posted a clean quarter and he would be a buyer of the shares on the post-earnings weakness. The analyst noted fees were down seasonally, but the bank posted good year-over-year growth. George maintained his Outperform rating and $153 price target on PNC Financial shares.
CFG Citizens Financial
$38.36

-0.2 (-0.52%)

09/26/18
GSCO
09/26/18
UPGRADE
Target $196
GSCO
Buy
Goldman says rate hikes halfway through, upgrades M&T Bank to Buy
Goldman Sachs analyst Ryan Nash says his firm's economist is calling for six more rate hikes, two in the second half of 2018 and four more through the end of 2020. With six rate hikes in the books, Goldman believes we are half way through the rate rising cycle, Nash tells investors in a research note. The analyst believes some banks will see upside to revenue growth from rates moving higher. Comerica (CMA), Regions Financial (RF), SunTrust (STI), Citizens Financial (CFG) and KeyCorp (KEY) remain top picks for Nash. He also upgraded M&T Bank (MTB) to Buy from Neutral with 15% upside to his $196 price target. The analyst believes M&T will outperform as the benefits of higher rates exceed market expectations.
04/23/18
BMOC
04/23/18
NO CHANGE
Target $52
BMOC
Outperform
Citizens Financial price target lowered to $52 from $56 at BMO Capital
BMO Capital analyst Lana Chan lowered her price target on Citizens Financial to $52, saying that despite the Q1 earnings beat, the underlying trends were mixed with weak loan growth and weak fees along with a lower loan loss provision and better net interest margins. Chan keeps her Outperform rating on Citizens Financial, maintaining her positive outlook toward improvement in "below-peer profitability metrics through balance sheet optimization, improved fee income productivity, and higher capital returns".
05/30/18
BARD
05/30/18
UPGRADE
BARD
Outperform
Citizens Financial upgraded to Outperform from Neutral at Baird
05/30/18
BARD
05/30/18
UPGRADE
Target $46
BARD
Outperform
Citizens Financial upgraded to Outperform at Baird
As reported previously, Baird analyst David George upgraded Citizens Financial to Outperform from Neutral. The analyst cited yesterday's weakness as a buying opportunity as the Italian bond and U.S. Treasury yields weighed on the banks. He likes the improving operating leverage, capital return, and discounted valuation of Citizens and maintained his $46 price target on the shares.
MS Morgan Stanley
$46.64

0.07 (0.15%)

09/20/18
RBCM
09/20/18
NO CHANGE
Target $60
RBCM
Outperform
Morgan Stanley EPS ests lowered at RBC Capital on declining advisory fees
RBC Capital analyst Gerard Cassidy kept his Outperform rating and $60 price target on Morgan Stanley but lowered his FY18 EPS view to $4.70 from $4.88 and FY19 view to $5.15 from $5.47. The analyst says his new targets assume advisory fees declining 2% and Equity and Debt Capital Market segments fees decline of 0.9% and 2.3% respectively, even though he sees equity trading revenues rising 5.8%. Cassidy further expects Morgan Stanley's investment management revenue to fall "modestly" on anticipated funds outflow from "money market mutual fund sweeps".
09/25/18
WOLF
09/25/18
INITIATION
Target $61
WOLF
Outperform
Morgan Stanley initiated with an Outperform at Wolfe Research
Wolfe Research analyst Steven Chubak initiated Morgan Stanley with an Outperform and $61 price target.
07/19/18
07/19/18
UPGRADE

Market Perform
Morgan Stanley upgraded to Market Perform on more balanced risk/reward at Bernstein
As previously reported, Bernstein analyst Christian Bolu upgraded Morgan Stanley to Market Perform from Underperform saying that while he still sees some risks, his concerns are now better reflected in the stock given price underperformance over recent months. Wealth management still a risk, but now a better understood risk, he contends.
07/19/18
ARGS
07/19/18
NO CHANGE
Target $62
ARGS
Buy
Morgan Stanley saw strong Q2, recent price weakness 'unwarranted', says Argus
Argus analyst Stephen Biggar kept his Buy rating and $62 price target on Morgan Stanley after its Q2 earnings beat, saying the results were bolstered by strength across investment banking, trading, and asset management. The analyst also notes the pretax margin in the Morgan Stanley the wealth management segment was 27%, which is on the high end of the recently raised guidance, while its ROE of 14.9% was above the 10%-13% forecast range for 2018-19. Biggar further contends that the share price weakness in Morgan Stanley since mid-May is unwarranted by its fundamentals and believes investors are offered an "attractive entry point" for the stock.

TODAY'S FREE FLY STORIES

SPY

SPDR S&P 500 ETF Trust

$273.44

-1.58 (-0.57%)

, SPX

S&P 500

$0.00

(0.00%)

21:11
10/23/18
10/23
21:11
10/23/18
21:11
Periodicals
Trump escalates attacks on FOMC head Powell, WSJ reports »

In an interview with The…

SPY

SPDR S&P 500 ETF Trust

$273.44

-1.58 (-0.57%)

SPX

S&P 500

$0.00

(0.00%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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CAG

Conagra Brands

$36.41

0.17 (0.47%)

21:06
10/23/18
10/23
21:06
10/23/18
21:06
Initiation
Conagra Brands initiated  »

Conagra Brands resumed…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 28

    Oct

YUM

Yum! Brands

$88.81

-0.52 (-0.58%)

20:41
10/23/18
10/23
20:41
10/23/18
20:41
Downgrade
Yum! Brands rating change  »

Yum! Brands downgraded to…

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03/06/13
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03/06/13
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  • 31

    Oct

WING

Wingstop

$69.62

-0.48 (-0.68%)

20:38
10/23/18
10/23
20:38
10/23/18
20:38
Downgrade
Wingstop rating change  »

Wingstop downgraded to…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 29

    Oct

BJRI

BJ's Restaurants

$65.49

-1.4 (-2.09%)

20:35
10/23/18
10/23
20:35
10/23/18
20:35
Downgrade
BJ's Restaurants rating change  »

BJ's Restaurants…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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  • 30

    Oct

  • 05

    Nov

  • 06

    Nov

AMSSY

AMS AG

$0.00

(0.00%)

20:34
10/23/18
10/23
20:34
10/23/18
20:34
Downgrade
AMS AG rating change  »

AMS AG downgraded to…

03/08/13
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03/06/13
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03/06/13
Barclays

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F

Ford

$8.60

0.185 (2.20%)

20:25
10/23/18
10/23
20:25
10/23/18
20:25
Hot Stocks
Ford names Anning Chen the new head of China business »

Earlier today, Ford…

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03/08/13
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  • 24

    Oct

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  • 13

    Dec

T

AT&T

$33.03

0.37 (1.13%)

, BA

Boeing

$349.74

-6.24 (-1.75%)

20:25
10/23/18
10/23
20:25
10/23/18
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

T

AT&T

$33.03

0.37 (1.13%)

BA

Boeing

$349.74

-6.24 (-1.75%)

UPS

UPS

$114.22

-1.38 (-1.19%)

TMO

Thermo Fisher

$223.46

-2.29 (-1.01%)

GD

General Dynamics

$187.80

-2.26 (-1.19%)

NOC

Northrop Grumman

$304.17

-2.6 (-0.85%)

BSX

Boston Scientific

$36.03

-0.6 (-1.64%)

NSC

Norfolk Southern

$156.94

-7 (-4.27%)

ITW

Illinois Tool Works

$126.51

-0.89 (-0.70%)

SIRI

Sirius XM

$5.96

-0.06 (-1.00%)

HLT

Hilton

$68.89

-1.28 (-1.82%)

FCX

Freeport McMoRan

$11.61

-0.395 (-3.29%)

QSR

Restaurant Brands

$56.80

0.15 (0.26%)

NDAQ

Nasdaq

$81.73

0.72 (0.89%)

IVZ

Invesco

$21.18

0.06 (0.28%)

OC

Owens Corning

$47.46

-1.26 (-2.59%)

NYCB

New York Community Bancorp

$9.41

0.03 (0.32%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 23

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    Oct

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  • 24

    Oct

  • 24

    Oct

  • 24

    Oct

  • 24

    Oct

  • 24

    Oct

  • 24

    Oct

  • 24

    Oct

  • 24

    Oct

  • 24

    Oct

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    Oct

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    Oct

  • 26

    Oct

  • 30

    Oct

  • 06

    Nov

  • 06

    Nov

  • 12

    Nov

  • 13

    Dec

NDLS

Noodles & Company

$12.70

0.11 (0.87%)

20:12
10/23/18
10/23
20:12
10/23/18
20:12
Conference/Events
Noodles & Company participates in a conference call with Jefferies »

Investor conference call…

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  • 23

    Oct

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    Oct

LIQT

LiqTech

$1.31

-0.01 (-0.76%)

20:02
10/23/18
10/23
20:02
10/23/18
20:02
Conference/Events
LiqTech to host conference call »

Management holds an…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 15

    Nov

19:45
10/23/18
10/23
19:45
10/23/18
19:45
General news
Breaking General news story  »

Kansas City Federal…

FBMS

First Bancshares

$35.68

-0.53 (-1.46%)

19:36
10/23/18
10/23
19:36
10/23/18
19:36
Earnings
First Bancshares reports Q3 adjusted EPS 62c, consensus 60c »

Reports Q3 NII $21.7M,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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PTI

Proteostasis

$7.39

0.22 (3.07%)

19:30
10/23/18
10/23
19:30
10/23/18
19:30
Syndicate
Proteostasis 11M share Secondary priced at $6.75 »

The deal size was…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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  • 24

    Oct

NCOM

National Commerce

$37.80

0.38 (1.02%)

19:19
10/23/18
10/23
19:19
10/23/18
19:19
Earnings
National Commerce reports Q3 EPS 59c, consensus 63c »

"We are pleased to…

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03/08/13
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03/06/13
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03/06/13
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  • 24

    Oct

  • 06

    Dec

ON

ON Semiconductor

$16.09

0.21 (1.32%)

19:14
10/23/18
10/23
19:14
10/23/18
19:14
Hot Stocks
ON Semiconductor announces CE certification for Sigfox RF solution »

ON Semiconductor has…

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03/08/13
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03/06/13
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03/06/13
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  • 29

    Oct

  • 08

    May

LPT

Liberty Property

$41.51

1.285 (3.19%)

, CMCSA

Comcast

$35.63

-0.12 (-0.34%)

19:10
10/23/18
10/23
19:10
10/23/18
19:10
Recommendations
Liberty Property, Comcast analyst commentary at MUFG »

Liberty Property price…

LPT

Liberty Property

$41.51

1.285 (3.19%)

CMCSA

Comcast

$35.63

-0.12 (-0.34%)

03/08/13
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  • 23

    Oct

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    Oct

  • 07

    Nov

MANH

Manhattan Associates

$47.61

-0.36 (-0.75%)

, RRC

Range Resources

$16.46

-0.24 (-1.44%)

18:55
10/23/18
10/23
18:55
10/23/18
18:55
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS:…

MANH

Manhattan Associates

$47.61

-0.36 (-0.75%)

RRC

Range Resources

$16.46

-0.24 (-1.44%)

TER

Teradyne

$32.20

-0.09 (-0.28%)

TSS

TSYS

$92.62

-0.85 (-0.91%)

NAVI

Navient

$12.40

-0.13 (-1.04%)

COF

Capital One

$87.12

-1.5 (-1.69%)

JNPR

Juniper

$27.37

-1.11 (-3.90%)

RHI

Robert Half

$64.01

0.63 (0.99%)

CMTA

Clementia Pharmaceuticals

$10.00

0.41 (4.28%)

APC

Anadarko

$61.84

-2.1 (-3.28%)

COG

Cabot Oil & Gas

$22.72

-0.44 (-1.90%)

AKRX

Akorn

$6.47

-0.12 (-1.82%)

IIVI

II-VI

$38.01

-0.44 (-1.14%)

NDLS

Noodles & Company

$12.70

0.11 (0.87%)

MKSI

MKS Instruments

$73.35

-1.13 (-1.52%)

IRBT

iRobot

$91.69

0.91 (1.00%)

CSL

Carlisle

$102.37

-0.64 (-0.62%)

TXN

Texas Instruments

$100.25

0.51 (0.51%)

EW

Edwards Lifesciences

$148.31

-1.175 (-0.79%)

AI

Arlington Asset Investment

$8.34

-0.07 (-0.83%)

UMBF

UMB Financial

$62.37

-1.32 (-2.07%)

FCF

First Commonwealth

$14.66

0.245 (1.70%)

VAR

Varian Medical

$104.27

-0.24 (-0.23%)

QEP

QEP Resources

$9.74

-0.52 (-5.07%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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  • 23

    Oct

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    Oct

  • 23

    Oct

  • 23

    Oct

  • 23

    Oct

  • 23

    Oct

  • 23

    Oct

  • 23

    Oct

  • 23

    Oct

  • 23

    Oct

  • 23

    Oct

  • 23

    Oct

  • 24

    Oct

  • 24

    Oct

  • 24

    Oct

  • 24

    Oct

  • 24

    Oct

  • 24

    Oct

  • 24

    Oct

  • 24

    Oct

  • 24

    Oct

  • 26

    Oct

  • 31

    Oct

  • 01

    Nov

  • 09

    Nov

  • 25

    Oct

BLK

BlackRock

$387.58

-4.76 (-1.21%)

, ISNPY

Intesa Sanpaolo

$0.00

(0.00%)

18:51
10/23/18
10/23
18:51
10/23/18
18:51
Periodicals
BlackRock cools on buying Intesa asset management unit stake, Bloomberg says »

BlackRock's (BLK)…

BLK

BlackRock

$387.58

-4.76 (-1.21%)

ISNPY

Intesa Sanpaolo

$0.00

(0.00%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 26

    Oct

PAAS

Pan American Silver

$15.09

-0.19 (-1.24%)

18:50
10/23/18
10/23
18:50
10/23/18
18:50
Hot Stocks
Pan American Silver announces major discovery at La Colorada in Mexico »

Pan American Silver…

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  • 07

    Nov

PFE

Pfizer

$44.09

-0.28 (-0.63%)

, LLY

Eli Lilly

$110.41

-1.66 (-1.48%)

18:42
10/23/18
10/23
18:42
10/23/18
18:42
Hot Stocks
Pfizer, Eli Lilly: Phase 3 study of tanezumab met all three co-primary endpoints »

Pfizer (PFE) and Eli…

PFE

Pfizer

$44.09

-0.28 (-0.63%)

LLY

Eli Lilly

$110.41

-1.66 (-1.48%)

03/08/13
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03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 30

    Oct

  • 06

    Nov

  • 07

    Nov

  • 12

    Nov

EXPI

eXp World Holdings

$12.11

-0.39 (-3.12%)

18:31
10/23/18
10/23
18:31
10/23/18
18:31
Hot Stocks
eXp World Holdings signs LOI to acquire VirBELA, terms not disclosed »

eXp World Holdings, the…

03/08/13
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03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 06

    Nov

IIVI

II-VI

$38.01

-0.44 (-1.14%)

18:26
10/23/18
10/23
18:26
10/23/18
18:26
Initiation
II-VI initiated at DA Davidson »

II-VI initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 01

    Nov

XOM

Exxon Mobil

$79.83

-1.32 (-1.63%)

, CVX

Chevron

$113.41

-3.82 (-3.26%)

18:22
10/23/18
10/23
18:22
10/23/18
18:22
Periodicals
Endeavor Energy explores possible sale of company, WSJ reports »

Endeavor Energy Resources…

XOM

Exxon Mobil

$79.83

-1.32 (-1.63%)

CVX

Chevron

$113.41

-3.82 (-3.26%)

BP

BP

$42.30

-0.855 (-1.98%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 02

    Nov

VMI

Valmont

$127.55

-1.68 (-1.30%)

18:09
10/23/18
10/23
18:09
10/23/18
18:09
Hot Stocks
Breaking Hot Stocks news story on Valmont »

Valmont lowers FY18 free…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 24

    Oct

VMI

Valmont

$127.55

-1.68 (-1.30%)

18:08
10/23/18
10/23
18:08
10/23/18
18:08
Earnings
Valmont lowers FY18 EPS view to $7.50-$7.65 from $7.55-$7.65, consensus $7.58 »

Sees FY18 revenue…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 24

    Oct

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