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GE

General Electric

$12.09

0.8 (7.09%)

05:46
10/02/18
10/02
05:46
10/02/18
05:46

General Electric upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital analyst Deane Dray upgraded General Electric to Outperform and raised his price target for the shares to $15 from $13. The analyst believes a floor has been put in the shares following news of Larry Culp being named Chairman and CEO.

GE General Electric
$12.09

0.8 (7.09%)

10/01/18
JPMS
10/01/18
NO CHANGE
JPMS
GE 'negative surprise' raises questions about serious issues, says JPMorgan
JPMorgan analyst Stephen Tusa said the timing and format of GE's (GE) CEO change announcement is a negative surprise that raises questions as to whether there are "serious issues at play." While the selection of ex-Danaher (DHR) CEO Larry Culp is a positive for investor confidence and the change brings the company a step closer to a real reset, the details on how potentially bad things actually are have not been shared and Tusa sees a dividend cut and potential equity raise as likely, he tells investors. The analyst maintains a $10 price target and Underweight rating on GE shares, which are up 97c, or 8.5%, to $12.26 in afternoon trading.
09/28/18
RBCM
09/28/18
NO CHANGE
Target $13
RBCM
Sector Perform
General Electric price target lowered to $13 from $15 at RBC Capital
RBC Capital analyst Deane Dray lowered his price target on General Electric to $13, reflecting the 9% downdraft in its stock price over the past two weeks. The analyst says the decline suggests that the company has yet to reach a point where bad news does not make the stock decline, arguing that the bottom has not yet been reached. In light of GE's "radio silence" ahead of its earnings, Dray adds that his investment focus remains around the company's negatives. Dray states that these now include the "new disclosures of defective gas turbine fan blades" and the prospects for new charges associated with the issue. The analyst also cites the "ongoing SEC and DoJ investigations, potential dividend cut, and price-cost pressures compounded by US-China tariffs and the trade war fallout".
09/20/18
09/20/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. BAIRD UPGRADES CATERPILLAR TO OUTPERFORM: Baird analyst Mig Dobre upgraded Caterpillar (CAT) to Outperform from Neutral. The analyst believes demand growth should continue into 2019. While some markets like China are close to peak, most of its demand is still at or below mid-cycle levels, said Dobre, who raised his price target to $191 from $155 on Caterpillar shares. Caterpiller is up 1.5% in late morning trading. PIPER CUTS STITCH FIX TO NEUTRAL: Piper Jaffray analyst Erinn Murphy downgraded Stitch Fix (SFIX) to Neutral while raising her price target for the shares to $43 from $29. The analyst cited valuation for the downgrade. With shares nearing $50, market expectations do not provide any margin of error, Murphy said. She believes the "smallest hint" of pressure could be a significant negative catalyst for the stock. Further, the analyst notes that Amazon's (AMZN) Prime Wardrobe is now advertising in key NFL slots and that the company is testing a personalized recommendation service for certain categories. In late morning trading, Stitch Fix is lower by over 13%. COWEN CUTS SKECHERS TO MARKET PERFORM: Cowen analyst John Kernan downgraded Skechers (SKX) to Market Perform from Outperform citing growing inventory levels, particularly as foreign exchange headwinds in key markets build. He also believes consensus forecasts for operating expansion are too optimistic. Kernan lowered his price target to $28 from $32 on Skechers shares, which are down 4.7% in late morning trading. JPMORGAN CUTS GE'S PRICE TARGET: JPMorgan analyst Stephen Tusa lowered his price target for General Electric (GE) to $10 from $11 and kept an Underweight rating on the shares. The impact on "asset value" from a failure at GE's U.S. H-frame launch customer, while tough to estimate, represents a negative development for a company that has little wiggle room for more "shoes to drop," Tusa said. MORGAN STANLEY POSITIVE ON APPLE IPHONE DUAL-SIM ADDITION: In EMEA and Asia, smartphones with dual-SIM capabilities have become the status quo, noted Morgan Stanley analyst Katy Huberty, who believes that Apple adding dual-SIM to the new iPhones is an underappreciated feature with the potential to drive upside to shipments in FY19. Huberty kept an Overweight rating and $247 price target on Apple shares.
09/20/18
JPMS
09/20/18
NO CHANGE
Target $10
JPMS
Underweight
JPMorgan, saying 'another shoe drops,' cuts GE price target to $10
JPMorgan analyst Stephen Tusa lowered his price target for General Electric to $10 from $11 and keeps an Underweight rating on the shares. The stock closed yesterday up 19c to $12.86. The impact on "asset value" from a failure at GE's U.S. H-frame launch customer, while tough to estimate, represents a negative development for a company that has little wiggle room for more "shoes to drop," Tusa tells investors in a research note partially titled "Another Shoe Drops: H Frame Blade Failure Risks Franchise Impairment." The analyst's channel checks, which he says are now confirmed by GE Power's CEO, GE investor relations and the customer, suggest GE has experienced a failure in a first stage blade on an H-frame in one of its two initial marquee installations in the U.S., Colorado Bend. GE is minimizing the issue, referring to the problem in general as an "oxidation issue," Tusa writes. However, one channel participant the analyst talked to spoke of the break at less than 10,000 hours as "historic." Further, Tusa says the problem is material enough for Exelon (EXC) to have shut the plant down, along with the "award winning" Wolf Hollow plant for precautionary measures. The analyst believes this suggests the situation is worse than what GE says. If as bad as it seems, there should no longer be any doubt that GE Power has company-specific issues, Tusa contends. The analyst's new price target assumes weaker results at GE Power and some franchise value impact.

TODAY'S FREE FLY STORIES

VAR

Varian Medical

$104.25

-1.575 (-1.49%)

16:31
10/21/18
10/21
16:31
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16:31
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Varian unveils new Bravos afterloader system for brachytherapy treatments »

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    Oct

NTGN

Neon Therapeutics

$8.88

0.56 (6.73%)

14:30
10/21/18
10/21
14:30
10/21/18
14:30
Conference/Events
Neon Therapeutics management to meet with Morgan Stanley »

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GTHX

G1 Therapeutics

$46.88

-0.07 (-0.15%)

14:13
10/21/18
10/21
14:13
10/21/18
14:13
Hot Stocks
G1 presents additional data from randomized Phase 2 trial in first-line SCLC »

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    Nov

NCNA

NuCana

$18.90

1.9 (11.18%)

14:09
10/21/18
10/21
14:09
10/21/18
14:09
Hot Stocks
NuCana reports additional data on NUC-1031 in advanced biliary tract cancer »

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LPTX

Leap Therapeutics

$6.44

-0.17 (-2.57%)

, MRK

Merck

$72.34

0.12 (0.17%)

14:05
10/21/18
10/21
14:05
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14:05
Hot Stocks
Leap Therapeutics presents esophagogastric cancer data »

Leap Therapeutics (LPTX)…

LPTX

Leap Therapeutics

$6.44

-0.17 (-2.57%)

MRK

Merck

$72.34

0.12 (0.17%)

03/08/13
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INCY

Incyte

$66.09

1.66 (2.58%)

14:02
10/21/18
10/21
14:02
10/21/18
14:02
Hot Stocks
Incyte announces positive interim data from Phase 2 trial of Pemigatinib »

Incyte announced updated…

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LOXO

Loxo Oncology

$160.01

-7.58 (-4.52%)

, BAYRY

Bayer

$0.00

(0.00%)

13:58
10/21/18
10/21
13:58
10/21/18
13:58
Hot Stocks
Loxo's larotrectinib delivers 81% ORR in expanded dataset of 109 TRK fusion cancer »

Bayer (BAYRY) and Loxo…

LOXO

Loxo Oncology

$160.01

-7.58 (-4.52%)

BAYRY

Bayer

$0.00

(0.00%)

03/08/13
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LOXO

Loxo Oncology

$160.01

-7.58 (-4.52%)

, BAYRY

Bayer

$0.00

(0.00%)

13:53
10/21/18
10/21
13:53
10/21/18
13:53
Hot Stocks
Loxo announces larotrectinib clinical update in patients with TRK fusion cancers »

Loxo Oncology (LOXO)…

LOXO

Loxo Oncology

$160.01

-7.58 (-4.52%)

BAYRY

Bayer

$0.00

(0.00%)

03/08/13
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  • 21

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    Nov

MRTX

Mirati Therapeutics

$40.04

-1.82 (-4.35%)

13:45
10/21/18
10/21
13:45
10/21/18
13:45
Hot Stocks
Mirati announces updated data from ongoing trial of single agent sitravatinib »

Mirati Therapeutics…

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  • 21

    Oct

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    Oct

RHHBY

Roche

$0.00

(0.00%)

13:39
10/21/18
10/21
13:39
10/21/18
13:39
Hot Stocks
Entrectinib shrank tumors in people with NTRK fusion-positive solid tumors »

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  • 21

    Oct

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    Dec

GILD

Gilead

$73.27

-0.9 (-1.21%)

, GLPG

Galapagos NV

$107.66

2.29 (2.17%)

13:34
10/21/18
10/21
13:34
10/21/18
13:34
Hot Stocks
Gilead, Galapagos NV announced data from Phase 3 FINCH2 trial of filgotinib »

Gilead Sciences (GILD)…

GILD

Gilead

$73.27

-0.9 (-1.21%)

GLPG

Galapagos NV

$107.66

2.29 (2.17%)

03/08/13
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03/06/13
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  • 07

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BLRX

BioLineRx

$0.98

-0.22 (-18.33%)

, MRK

Merck

$72.34

0.12 (0.17%)

13:27
10/21/18
10/21
13:27
10/21/18
13:27
Hot Stocks
BioLineRx discloses additional data from Phase 2a COMBAT/KEYNOTE-202 study »

BioLineRx (BLRX)…

BLRX

BioLineRx

$0.98

-0.22 (-18.33%)

MRK

Merck

$72.34

0.12 (0.17%)

03/08/13
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03/08/13
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  • 23

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ADAP

Adaptimmune

$10.79

-0.09 (-0.83%)

13:22
10/21/18
10/21
13:22
10/21/18
13:22
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Adaptimmune presents updated data from ongoing MAGE-A10, MAGE-A4 studies »

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RHHBY

Roche

$0.00

(0.00%)

13:02
10/21/18
10/21
13:02
10/21/18
13:02
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Genentech's Tecentriq, Abraxane combo demonstrates positive Phase III results »

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  • 21

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PFE

Pfizer

$44.50

0.48 (1.09%)

12:56
10/21/18
10/21
12:56
10/21/18
12:56
Hot Stocks
Pfizer presents overall survival data from PALOMA-3 trial of Ibrance »

Pfizer announced detailed…

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  • 22

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  • 07

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MRK

Merck

$72.34

0.12 (0.17%)

12:52
10/21/18
10/21
12:52
10/21/18
12:52
Hot Stocks
Merck presents early data for STING agonist in advanced solid tumors/lymphomas »

Merck announced the first…

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  • 23

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    Feb

DVAX

Dynavax

$10.90

-0.47 (-4.13%)

, MRK

Merck

$72.34

0.12 (0.17%)

12:47
10/21/18
10/21
12:47
10/21/18
12:47
Hot Stocks
Dynavax's SD-101, Keytruda combo still shows 70% ORR in Advanced Melanoma »

Dynavax (DVAX) presented…

DVAX

Dynavax

$10.90

-0.47 (-4.13%)

MRK

Merck

$72.34

0.12 (0.17%)

03/08/13
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  • 23

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EXEL

Exelixis

$16.27

-0.25 (-1.51%)

12:44
10/21/18
10/21
12:44
10/21/18
12:44
Hot Stocks
Exelixis announces results from data analysis of CABOSUN, METEOR trials »

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  • 21

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AGEN

Agenus

$1.97

-0.025 (-1.26%)

12:39
10/21/18
10/21
12:39
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12:39
Hot Stocks
Agenus presents clinical data on PD-1, CTLA-4 at ESMO 2018 »

Agenus presented updated…

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  • 07

    Nov

OMED

OncoMed

$2.47

-0.17 (-6.44%)

12:37
10/21/18
10/21
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12:37
Hot Stocks
OncoMed announces interim phase 1b results for Navicixizumab, Paclitaxel combo »

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IMGN

ImmunoGen

$7.44

-0.355 (-4.56%)

, MRK

Merck

$72.34

0.12 (0.17%)

12:34
10/21/18
10/21
12:34
10/21/18
12:34
Hot Stocks
ImmunoGen presents initial data from FORWARD II expansion cohort »

ImmunoGen (IMGN)…

IMGN

ImmunoGen

$7.44

-0.355 (-4.56%)

MRK

Merck

$72.34

0.12 (0.17%)

03/08/13
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  • 23

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  • 02

    Nov

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    Feb

BMY

Bristol-Myers

$54.31

-1.7 (-3.04%)

12:30
10/21/18
10/21
12:30
10/21/18
12:30
Hot Stocks
Opdivo, Yervoy combo shows promising results in advanced form of bladder cancer »

Bristol-Myers Squibb…

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MRK

Merck

$72.34

0.12 (0.17%)

12:26
10/21/18
10/21
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Hot Stocks
Merck's Keytruda shows complete response rate of nearly 40% in high-risk NMIBC »

Merck announced the first…

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    Feb

TSRO

Tesaro

$41.81

-1.19 (-2.77%)

12:18
10/21/18
10/21
12:18
10/21/18
12:18
Hot Stocks
Tesaro presents Phase 1 GARNET data of TSR-042 in MSI-H endometrial cancer »

Tesaro summarized updated…

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  • 01

    Nov

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    Nov

UDR

UDR, Inc.

09:37
10/21/18
10/21
09:37
10/21/18
09:37
Downgrade
UDR, Inc. rating change at Evercore ISI »

UDR, Inc. downgraded to…

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