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PENN

Penn National

$28.75

0.29 (1.02%)

, CVG

Convergys

$24.42

(0.00%)

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

Penn National to replace Convergys in S&P 400 at open on 10/10

S&P MidCap 400 constituent SYNNEX (SNX) is acquiring Convergys (CVG) in a deal expected to close on October 5.

PENN

Penn National

$28.75

0.29 (1.02%)

CVG

Convergys

$24.42

(0.00%)

SNX

Synnex

$84.92

1.23 (1.47%)

PENN Penn National
$28.75

0.29 (1.02%)

10/01/18
RHCO
10/01/18
INITIATION
Target $39
RHCO
Buy
Penn National assumed with a Buy at SunTrust
SunTrust analyst Barry Jonas assumed Penn National with a Buy rating and a price target of $39 as part of his broader "U.S. Gaming" coverage transfer research report. The analyst is positive on the company's position as a "best in class regional gaming operator" and its expected transformative acquisition of Pinnacle Entertainment (PNK). Jonas notes that M&A synergies could drive potential upside to Penn National estimates along with "continued margin improvements across its portfolio".
08/28/18
JEFF
08/28/18
NO CHANGE
JEFF
Buy
Penn, Boyd smoking ban weakness may be buying opportunity, says Jefferies
Jefferies analyst David Katz said he views proposed smoking bans in St. Charles and St. Louis counties as potentially detrimental to Penn National (PENN) and Boyd Gaming (BYD), depending on the passing of the bills and the exemptions allowed. While the prospective process could "very modestly" temper his otherwise positive view on both stocks, he would consider any potential weakness a buying opportunity, Katz added. He keeps Buy ratings on the stocks of both casino operators.
07/26/18
UGAM
07/26/18
DOWNGRADE
UGAM
Hold
Penn National downgraded to Hold from Buy at Union Gaming
06/08/18
06/08/18
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. ConocoPhillips (COP) upgraded to Outperform from Market Perform at Bernstein with analyst Bob Brackett saying the company's "stalwart global portfolio" and Brent pricing helps insulate it from Permian congestion impacting other E&Ps. 2. DexCom (DXCM) upgraded to Overweight from Neutral at JPMorgan with analyst Robbie Marcus saying glucose measurement is becoming an essential tool for patients and DexCom, with the launch of the G6, is the "clear market leader" from a technological standpoint. 3. Penn National (PENN) reinstated with an Overweight from Neutral at JPMorgan with analyst Joseph Gref saying he sees a favorable setup for the shares given an "attractive regional gaming landscape" and the company's margin improvement initiatives. 4. Marathon Oil (MRO) upgraded to Buy from Hold at Tudor Pickering. 5. Quest Diagnostics (DGX) upgraded to Outperform from Market Perform at William Blair with analyst Amanda Murphy citing the recent UnitedHealthcare (UNH) contract change and positive secular trends for larger labs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CVG Convergys
$24.42

(0.00%)

06/29/18
BRRR
06/29/18
NO CHANGE
BRRR
Market Perform
Higher bid for Convergys appears unlikely, says Barrington
After Convergys (CVG) announced that it agreed to be acquired by Synnex (SNX), Barrington analyst Vincent Colicchio said he believes the timing of the sale is poor given the meaningful weakness in the company's communications vertical over the past few years and that while the deal price appears low, a relatively low multiple at this point of time is warranted. Stating that he thinks a higher bid emerging does not appear highly likely, Colicchio maintains a Market Perform rating on Convergys shares.
05/16/18
BARD
05/16/18
NO CHANGE
BARD
Convergys could see $18-$21 range absent a deal, says Baird
Baird analyst David Koning commented on Covergys following a Dealreporter article that said the company is seeing limited interest from potential buyers. Koning believes Convergys shares could see $18-$21 near-term in the absence of a deal. The analyst remains cautious telling investors industry growth is challenged by Communications vertical and persistent wage pressures. The analyst maintains a Neutral rating and $22 price target on Convergys shares.
10/04/18
RHCO
10/04/18
NO CHANGE
Target $100
RHCO
Buy
Synnex price target lowered to $100 from $125 at SunTrust
SunTrust analyst Frank Atkins lowered his price target on Synnex (SNX) to $100, saying that while Q3 earnings topped expectations, the outlook for Q4 was disappointing. The analyst also recommends that investors buy the shares on weakness, anticipating margin expansion in FY19 to drive multiples while the company also allocates some of the cashflows to debt payment. Atkins further sees reduced revenue volatility coming from Synnex's acquisition of Convergys (CVG).
01/25/18
BARD
01/25/18
NO CHANGE
BARD
Baird expects Convergys to lower 2018 earnings guidance
SNX Synnex
$84.92

1.23 (1.47%)

10/04/18
10/04/18
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. National Storage (NSA) upgraded to Buy from Hold at Jefferies with analyst George Hoglund saying he believes the recent weakness in the shares is overdone and presents a buying opportunity. 2. Cummins (CMI) upgraded to Overweight from Neutral at Piper Jaffray with analyst Alexander Potter saying his deep-dive analysis illuminates the likelihood of upside versus consensus estimates in the coming years. 3. Synnex (SNX) upgraded to Strong Buy from Buy at Needham with analyst Sean Hannon citing the company's business becoming "more diversified, experiencing healthy fundamental demand, and expanding its structural margin profile." 4. Cloudera (CLDR) upgraded to Buy from Neutral at DA Davidson and Nomura Instinet. 5. Washington Trust (WASH) upgraded to Buy from Hold at Sandler O'Neill withh analyst Mark Fitzgibbon saying management went out of their way to focus on their organic growth and "made a compelling argument that there is a dearth of good mid-size banks in New England." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/04/18
NEED
10/04/18
UPGRADE
Target $135
NEED
Strong Buy
Synnex upgraded to Strong Buy at Needham after another 'solid' quarter
As reported earlier, Needham analyst Sean Hannon upgraded Synnex to Strong Buy from Buy with a price target of $135 after its "solid" earnings result in Q3. The analyst cites the company's business becoming "more diversified, experiencing healthy fundamental demand, and expanding its structural margin profile". Hannon further notes the Street being too focused on the margin pressure of Synnex's Hyve business while missing a "bigger story of strong profit growth" while also pointing to the valuation on the stock reaching "trough levels" of 6.8-times forward earnings based on the aftermarket price yesterday.
10/04/18
NEED
10/04/18
UPGRADE
NEED
Strong Buy
Synnex upgraded to Strong Buy from Buy at Needham

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KEYS

Keysight Technologies

$89.14

1.85 (2.12%)

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HIW

Highwoods Properties

$43.92

0.14 (0.32%)

08:25
08/22/19
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08:25
Conference/Events
Highwoods Properties to hold a conference call »

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$DJT

DJ Transportation Average

$0.00

(0.00%)

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$DJU

DJ Utility Average

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DJX

Dow Jones Industrial Average

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PSTG

Pure Storage

$13.87

0.2 (1.46%)

08:24
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Upgrade
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IYT

iShares Transportation Average

$182.06

1.41 (0.78%)

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XLK

Technology Select Sector SPDR

$79.99

0.91 (1.15%)

08:23
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XLE

Energy Select Sector SPDR

$58.19

0.43 (0.74%)

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SNPS

Synopsys

$131.74

1.71 (1.32%)

08:23
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XLY

Consumer Discretionary Sector SPDR

$119.60

2.175 (1.85%)

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XLB

S&P Select Materials SPDR

$56.69

0.26 (0.46%)

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XLU

Utilities SPDR

$62.03

0.36 (0.58%)

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XLP

Consumer Staples Sector SPDR

$60.33

0.19 (0.32%)

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Technical Analysis
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BC

Brunswick

$45.76

0.7 (1.55%)

08:22
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XLV

Health Care Select Sector SPDR

$91.30

0.63 (0.69%)

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IWM

iShares Trust Russell 2000 Index Fund

$150.35

1.24 (0.83%)

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DIA

Diamonds Fund ETF

$261.98

2.37 (0.91%)

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SPY

SPDR S&P 500 ETF Trust

$292.40

2.37 (0.82%)

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XLF

Financial Select Sector

$26.59

0.12 (0.45%)

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SMH

Market Vectors Semiconductor

$114.59

1.16 (1.02%)

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QQQ

Invesco QQQ Trust

$188.62

1.63 (0.87%)

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$COMP

Nasdaq Composite

$0.00

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SRCL

Stericycle

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Conference/Events
Stericycle management to meet with Northcoast »

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NDX

Nasdaq 100 Index

$0.00

(0.00%)

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