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F

Ford

$9.13

-0.025 (-0.27%)

, GM

General Motors

$34.12

-0.14 (-0.41%)

11:27
10/06/18
10/06
11:27
10/06/18
11:27

Week in review: How Trump's policies moved stocks

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump and his administration with this weekly recap compiled by The Fly: 1. USMCA: On Monday, U.S. Trade Representative Robert Lighthizer and Canadian Foreign Affairs Minister Chrystia Freeland announced in a joint statement that Canada and the United States reached an agreement, alongside Mexico, on "a new, modernized trade agreement for the 21st Century," which is being called the United States-Mexico-Canada Agreement. President Trump and his Mexican and Canadian counterparts are expected to sign the deal by the end of November. It will then be up to Congress to approve the deal, which is likely to come up for a vote next year and should take effect around January 1, 2020. According to CNN, USCMA will open up some of Canada's dairy market to U.S. farmers and in return, the U.S. will allow more Canadian dairy, peanuts and peanut products, and a limited amount of sugar to cross the border. Regarding car manufacturing, the deal will require that more of a vehicle's parts be made in North America in order for the car to be free from tariffs, the publication said, adding that the provision will help keep the production of car parts in the U.S. and bring back some production that moved abroad. 2. AUTO MAKERS: Commenting on the new USMCA, Ford (F) said it "is very encouraged by [Monday's] announcement, and we applaud all three governments for working together to achieve free and fair trade in a strong regional agreement. We stand ready to be a collaborative partner to ensure this agreement is ratified in all three markets because it will support an integrated, globally competitive automotive business in North America. The benefits of scale and global reach will help to drive volume and support manufacturing jobs." Other automakers include General Motors (GM), Fiat Chrysler (FCAU), Toyota (TM), Honda (HMC) and Volkswagen (VLKAY). 3. SUPERIOR INDUSTRIES: In a research note following the USMCA announcement, BWS Financial analyst Vahid Khorsand told investors that the agreement puts into place several rules that benefit Superior Industries (SUP) and may open up new opportunities for the company and push average revenue per unit higher. The company's North American business is focused on wheels larger than 17 inches and wheels with complex finishes, and these mostly come standard on light trucks and SUVs, which are built in Mexico and the U.S., the analyst pointed out. Superior Industries has always been under the threat of Asian wheel manufacturers providing a lower priced competing product, he contended. Other auto parts manufacturers include American Axle (AXL), Lear (LEA), Magna International (MGA), BorgWarner (BWA) and Visteon (VC). 4. STEEL, ALUMINUM TARIFFS: Trump's new continental trade pact does not deal with the administration's tariffs on foreign metal, according to the Wall Street Journal. The revised pact between the U.S., Canada and Mexico "will leave in place Trump administration tariffs on imported steel and aluminum," added the Journal. Stocks in the steel and aluminum group include U.S. Steel (X), AK Steel (AKS), Nucor (NUE), Steel Dynamics (STLD), Alcoa (AA), Arconic (ARNC) and Century Aluminum (CENX). 5. SALE OF E15: Commenting on indications that President Trump will ask the EPA next week to grant a waiver for the year-round sale of E15, Craig-Hallum analyst Eric Stine said he believes the chances are high that this will happen given the importance of the farm vote to midterm elections and Trump's re-election prospects. The analyst argued that this would be a strong positive for the industry and would positively impact industry demand in 2019. Stine reiterated a Buy rating on Pacific Ethanol (PEIX) and Green Plains (GPRE) shares. "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.

F

Ford

$9.13

-0.025 (-0.27%)

GM

General Motors

$34.12

-0.14 (-0.41%)

FCAU

Fiat Chrysler

$17.38

-0.22 (-1.25%)

TM

Toyota

$121.53

-0.605 (-0.50%)

HMC

Honda

$28.85

-0.29 (-1.00%)

VLKAY

Volkswagen

$0.00

(0.00%)

SUP

Superior Industries

$15.49

-0.38 (-2.39%)

AXL

American Axle

$17.25

-0.73 (-4.06%)

LEA

Lear

$143.01

-1.995 (-1.38%)

MGA

Magna

$50.79

-1.62 (-3.09%)

BWA

BorgWarner

$41.70

-1.27 (-2.96%)

VC

Visteon

$88.44

-3.55 (-3.86%)

X

U.S. Steel

$29.39

-0.51 (-1.71%)

AKS

AK Steel

$4.83

-0.035 (-0.72%)

NUE

Nucor

$64.29

-0.72 (-1.11%)

STLD

Steel Dynamics

$45.42

-0.31 (-0.68%)

AA

Alcoa

$42.08

-1.025 (-2.38%)

ARNC

Arconic

$21.83

-0.38 (-1.71%)

CENX

Century Aluminum

$9.96

-0.27 (-2.64%)

PEIX

Pacific Ethanol

$1.89

-0.03 (-1.56%)

GPRE

Green Plains

$17.62

0.12 (0.69%)

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F Ford
$9.13

-0.025 (-0.27%)

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.
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.
GM General Motors
$34.12

-0.14 (-0.41%)

09/11/18
09/11/18
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. Krystal Biotech (KRYS) initiated with an Overweight at Cantor Fitzgerald. 2. Melinta Therapeutics (MLNT) initiated with a Buy at H.C. Wainwright and Jefferies. 3. Burlington Stores (BURL) initiated with an Overweight at Barclays. 4. General Motors (GM) reinstated with a Neutral at Goldman Sachs. 5. SailPoint (SAIL) initiated with a Market Perform at Northland. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/11/18
GSCO
09/11/18
INITIATION
Target $36
GSCO
Neutral
General Motors reinstated with a Neutral at Goldman Sachs
Goldman Sachs analyst David Tamberrino reinstated coverage of General Motors with a Neutral rating and $36 price target. Before going Not Rated on the name, Goldman had a Sell rating on the shares. The path forward for the shares is "somewhat murky" with a "more challenged" backdrop in North America and growing concerns about the potential for China joint venture income to see further pressure, Tamberrino tells investors in a research note. The analyst sees positives from GM's pickup truck refresh and Korea restructuring accruing in 2019, but still expects a "downward trajectory" to earnings and free cash flow next year. However, he believes the market is prepping for a flat-to-down earnings trajectory and views the stock's risk/reward as balanced at current levels.
09/11/18
RBCM
09/11/18
NO CHANGE
Target $49
RBCM
Outperform
General Motors valuation reflects 'low expectations', says RBC Capital
RBC Capital analyst Joseph Spak kept his Outperform rating and $49 price target on General Motors after hosting meetings with its CEO Mary Barra and CFO Dhivya Suryadevara. The analyst says he remains positive on the company's execution, adding that while investors are focused on China and the direction of earnings in FY19, he believes that the market expectations are already "very low" with forward valuation multiple ex-Cruise and ex-cash at just over 3.5-times earnings. Spak also cites the positives for General Motors from the " recovering volume on light-duty pickups", cost savings, and expectations of strong performance in the mid-size CUV class.
FCAU Fiat Chrysler
$17.38

-0.22 (-1.25%)

08/07/18
MSCO
08/07/18
NO CHANGE
Target $1325
MSCO
Overweight
Enterprise value of Alphabet's Waymo raised to $175B at Morgan Stanley
Morgan Stanley analyst Brian Nowak increased his enterprise value estimate for Alphabet's Waymo unit from $75B for ride sharing only to $175B given his analyses for two other emerging business models, namely logistics and licensing. He believes Waymo remains on track to launch an autonomous ride hailing service in Phoenix this year and believes this business could be worth about $80B over the long-term. Partnerships with Walmart (WMT), DDR (DDR) and Peterbilt speak to Waymo's logistics focus, said Nowak, who sees the company potentially having a $90B logistics business. Additionally, he sees a roughly $7B licensing opportunity, pointing to the company's FCA (FCAU) relationship as a model of how companies could pay a license fee to Waymo for its autonomous technology. Given his view of Waymo being a key part of Alphabet's long-term value, Nowak raised his sum of the parts valuation to $1,550 from $1,400. He has an Overweight rating and $1,325 price target on Alphabet shares.
07/10/18
UBSW
07/10/18
UPGRADE
UBSW
Buy
UBS upgrades Fiat Chrysler to Buy ahead of Q2 results
UBS analyst Patrick Hummel upgraded Fiat Chrysler (FCAU) to Buy from Neutral with a price target of EUR 23. The analyst expects the company's "positive volume/mix impact story" to continue in Q2 even with the ramp of the new RAM 1500 truck unlikely to be completed until Q3. Fiat shares should deliver the best earnings momentum among the European car manufacturers in the coming quarters, Hummel tells investors in a research note.
07/17/18
JEFF
07/17/18
NO CHANGE
Target $25
JEFF
Buy
Santander Consumer, Fiat Chrysler tolling agreement doesn't change much, says Jefferies
Jefferies analyst John Hecht notes that Santander Consumer (SC) and Fiat Chrysler (FCAU) entered a tolling agreement that allows both parties additional time to assess their rights, obligations, claims, etc. while not having to worry about the statute of limitations. The analyst believes the tolling agreement does not change much of what is going on. Nonetheless, Hecht notes that the companies also acknowledged they are working to resolve the matter tied to the captive finance, with the agreement indicating that a resolution on this matter may come in months rather than quarters. He reiterates a Buy rating and $25 price target on Santander Consumer shares.
09/12/18
EXAN
09/12/18
UPGRADE
EXAN
Outperform
Fiat Chrysler upgraded to Outperform from Neutral at Exane BNP Paribas
Exane BNP Paribas analyst Dominic O'Brien earlier today upgraded Fiat Chrysler to Outperform from Neutral. The shares in afternoon trading are up 3%, or 48c, to $17.79.
TM Toyota
$121.53

-0.605 (-0.50%)

06/06/18
MSCO
06/06/18
NO CHANGE
MSCO
Morgan Stanley says Softbank stake in Cruise significant 'far beyond' just GM
Morgan Stanley analyst Adam Jonas said Softbank's (SFTBF) recently announced investment in GM Cruise "carries significance far beyond" General Motors (GM), arguing that the increasingly conspicuous involvement of "outside validators" such as large-cap tech firms and prominent investors can accelerate perception change in the capital markets about "Auto 2.0." He envisions the possible formation of two different companies currently held under one automaker's roof, which he dubs an Auto 2.0 "Yieldco" and an Auto 2.0 "Growthco." Converting car owners into monthly subscribers could open up significant revenue, profit, and value opportunities for traditional automakers, argues Jonas in a note to investors. Other automaking "OEMs" include Ford (F), Daimler (DDAIF), Toyota (TM), Honda (HMC), Fiat Chrysler (FCAU) and BMW Group (BAMXY).
06/02/18
GSCO
06/02/18
UPGRADE
GSCO
Buy
Toyota upgraded to Buy from Neutral at Goldman Sach
Goldman Sachs analyst Kota Yuzawa upgraded Toyota Motor (TM) to Buy with an increased price target of 8,500 yen. The carmaker's U.S. shares closed yesterday up $3.36 to $131.31. While sales growth is unlikely amid increasing competition in the U.S. market, management has made it clear they will be focusing strongly on lowering costs, Yuzawa tells investors in a research note. As such, the analyst expects Toyota to establish a "leaner earnings structure" over the next few years and improve its operating structure. Yuzawa this morning also downgraded Honda Motor (HMC) to Neutral from Buy.
06/01/18
06/01/18
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. American Airlines (AAL) upgraded to Outperform from In-Line at Imperial Capital with analyst Michael Derchin saying American is likely to reduce capacity starting in the post-labor day period, which should be well received by investors. 2. T2 Biosystems (TTOO) upgraded to Outperform from Market Perform at Leerink with analyst Puneet Souda saying this week's T2bacteria FDA clearance expands the company's market opportunity "dramatically" from $1.4B to over $3B. 3. Highwoods Properties (HIW) upgraded to Buy from Hold at Stifel with analyst John Guinee saying he believes the macro environment is changing to the positive for REITs. 4. Toyota (TM) upgraded to Outperform from Neutral at Daiwa. 5. RLJ Lodging Trust (RLJ) upgraded to Overweight from Equal Weight at Barclays with analyst Felicia Hendrix saying she views the current valuation as attractive and sees a strong RevPAR outlook for 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/01/18
DAIW
06/01/18
UPGRADE
DAIW
Buy
Toyota upgraded to Outperform from Neutral at Daiwa
HMC Honda
$28.85

-0.29 (-1.00%)

10/03/18
10/03/18
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. Nike (NKE) downgraded to Hold from Buy at HSBC with analyst Erwan Rambourg saying while the company's Q1 results were strong and the outlook "remains rock solid," the company's valuation multiple of 30-times forward earnings may weigh on the stock. 2. Oracle (ORCL) downgraded to In Line from Outperform at Evercore ISI with analyst Kirk Materne saying even though growth is expected to accelerate modestly in the second half of this year, there are not enough catalysts for share to "meaningfully re-rate" from current levels, adding that the risk-reward appears balanced following this summer's rally. 3. Honda (HMC) downgraded to Outperform from Buy at CLSA with analyst Christopher Richter saying demand for its vehicles appears to be leveling out in North America, China and Japan. 4. Asbury Automotive (ABG) downgraded to Neutral from Buy at Buckingham. 5. Hi-Crush Partners (HCLP) downgraded to Hold from Accumulate at Johnson Rice and to Neutral from Outperform at Credit Suisse. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/03/18
10/03/18
DOWNGRADE

Outperform
Honda downgraded to Outperform on signs of lower demand at CLSA
As previously reported, CLSA analyst Christopher Richter downgraded Honda to Outperform from Buy and lowered his estimates given signs he sees that demand for its vehicles appears to be levelling out in North America, China and Japan. The analyst, who still sees Honda "easily beating" its fiscal year guidance, but not by as much as before, lowered his price target on Honda shares to Y3,900 from Y4,200.
10/03/18
LYON
10/03/18
DOWNGRADE
LYON
Outperform
Honda downgraded to Outperform from Buy at CLSA
07/31/18
LYON
07/31/18
UPGRADE
LYON
Buy
Honda upgraded to Buy from Outperform at CLSA
CLSA analyst Chris Richter upgraded Honda to Buy from Outperform following the Q1 beat and raised guidance saying risks from U.S. tariffs are fading.
VLKAY Volkswagen
$0.00

(0.00%)

04/25/18
JEFF
04/25/18
NO CHANGE
Target $53
JEFF
Buy
VW acquisition scenario supports $53 Navistar target, says Jefferies
Recent news flow regarding a separation of Volkswagen's (VLKAY) Truck and Bus business and the potential for full ownership of Navistar (NAV) has driven Navistar shares up 13% relative to the S&P 500 over the past month, Jefferies analyst Stephen Volkmann tells investors in a research note. After examining potential synergies and valuation scenarios for a tie-up, the analyst has increased confidence in his high-on-the-Street $53 price target for Navistar shares.
05/31/18
JEFF
05/31/18
NO CHANGE
JEFF
Buy
Jefferies lists buys on 'wildly overdone' electric truck concerns
The ramp of electric trucks amp may be slower than in passenger cars, and incumbent truck makers are likely to remain key players, Jefferies analyst Stephen Volkmann tells investors in a research note. To a much greater extent than in passenger vehicles, commercial vehicle sales rely on uptime and return on investment, and are driven by brand relationship and dealer support, Volkmann adds. He views the "terminal multiple" concerns for established truck players as "wildly overdone" and recommends buying shares of Paccar (PCAR), Navistar (NAV), Volkswagen (VLKAY) and Volvo (VOLVY).
06/15/18
JEFF
06/15/18
NO CHANGE
Target $53
JEFF
Buy
As VW appointment drives Navistar speculation, Jefferies sees eventual buyout
Noting that Navistar (NAV) shares are rising amid broader market weakness today following a Reuters report that Volkswagen (VLKAY) has appointed a new CFO noted to be an M&A expert, Jefferies analyst Stephen Volkmann said he continues to believe Volkswagen will pursue full ownership of Navistar, although he calls the timing of such an event "highly uncertain." He maintains a Buy rating and "Street high" price target of $53 on Navistar shares.
SUP Superior Industries
$15.49

-0.38 (-2.39%)

01/09/18
BRRR
01/09/18
INITIATION
Target $27
BRRR
Outperform
Superior Industries initiated with an Outperform at Barrington
Barrington analyst Gary Prestopino started Superior Industries with an Outperform rating and $27 price target. The trend toward lighter weight wheels driven by the shift to aluminum versus steel is a catalyst for growth, the analyst contends.
10/01/18
BWSF
10/01/18
NO CHANGE
Target $35
BWSF
Strong Buy
Trade deal highly favorable to Superior Industries, says BWS Financial
The United States, Mexico, Canada Agreement puts into place several rules that benefit Superior Industries and may open up new opportunities for the company and push average revenue per unit higher, BWS Financial analyst Vahid Khorsand tells investors in a research note. The company's North American business is focused on wheels larger than 17 inches and wheels with complex finishes, and these mostly come standard on light trucks and SUVs, which are built in Mexico and the United States, the analyst points out. He believes terms of the trade agreement announced today help protect Superior Industries from lower priced foreign competitors. Khorsand believes the deal "removes many of the reservations investors might have had." He keeps a Buy rating on Superior Industries with a $35 price target. The stock in midday trading is down 5c to $17.00.
01/10/18
01/10/18
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. Helmerich & Payme (HP), Nabors (NBR), RPC, Inc (RES), Basic Energy (BAS) and Superior Energy (SUP) initiated with an Equal Weight at Stephens. The firm also initiated ProPetro (PUMP), Keane (FRAC) and Patterson-UTI (PTEN) with an Overweight. 2. Molson Coors (TAP) and Constellation Brands (STZ) initiated with an Overweight at Barclays, while Brown-Forman (BFA, BFB, BF.A, BF.B) was initiated with an Equal Weight. 3. Cisco (CSCO) assumed with an Overweight at Piper Jaffray, while F5 Networks (FFIV) and Juniper (JNPR) were assumed with a Neutral. 4. CorSite Realty (COR) initiated with an overweight at MUFG. 5. Epizyme (EPZM) initiated with an Overweight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/11/18
RILY
07/11/18
NO CHANGE
Target $25
RILY
Buy
Superior CFO resignation does not derail story, says B. Riley FBR
B. Riley FBR analyst Christopher Van Horn says the resignation of Superior Industries CFO Nadeem Moiz for personal reasons does not derail the company's story. The analyst keeps a Buy rating on the shares with a $25 price target.
AXL American Axle
$17.25

-0.73 (-4.06%)

10/02/18
WOLF
10/02/18
INITIATION
Target $27
WOLF
Outperform
American Axle initiated with an Outperform at Wolfe Research
Wolfe Research initiated American Axle with an Outperform and $27 price target.
06/08/18
MSCO
06/08/18
NO CHANGE
MSCO
Overweight
Morgan Stanley says American Axle analyst day may dispel part of bear thesis
Morgan Stanley analyst Armintas Sinkevicius said the bear thesis on American Axle is centered around "the cycle, leverage, customer concentration, and electrification, in that order." While he does not debate that the cycle will be an overhang for the foreseeable future, Sinkevicius believes the company's upcoming analyst day may help it to dispel some other parts of the bear thesis, particularly the risk around electrification, which he views as overdone. The analyst, who is not expecting any guidance targets at the event, keeps an Overweight rating on American Axle and continues to view it as his top pick in the U.S. Autos and Shared Mobility sector.
10/02/18
WOLF
10/02/18
INITIATION
Target $27
WOLF
Outperform
American Axle initiated with an Outperform at Wolfe Research
Wolfe Research initiated American Axle with an Outperform and $27 price target.
04/09/18
04/09/18
NO CHANGE
Target $21

Overweight
Morgan Stanley, bullish on trucks, names American Axle top pick in U.S. Autos
After Morgan Stanley published a report on the potential beneficiaries from infrastructure spending, analyst Armintas Sinkevicius called American Axle (AXL) the supplier with the greatest direct exposure to pick-up trucks and believes it should receive an outsized benefit from any infrastructure spending increase. He named American Axle his top pick in the U.S. Autos & Shared Mobility sector, stating that after the first quarter he expects volumes to improve at General Motors (GM), launch costs to fade and for synergies to provide margin expansion and free cash flow generation. As previously reported, Morgan Stanley analyst Adam Jonas upgraded General Motors to Overweight from Equal Weight this morning, also citing the potential benefits of increased U.S. infrastructure spending.
LEA Lear
$143.01

-1.995 (-1.38%)

07/31/18
07/31/18
UPGRADE

Overweight
Lear upgraded to Overweight, Adient cut to Underweight at Morgan Stanley
As previously reported, Morgan Stanley analyst Armintas Sinkevicius upgraded Lear (LEA) to Overweight from Equal Weight with the stock trading at a discount to Adient (ADNT), which he also downgraded to Underweight this morning. Lear has a strong operational track record and history of "beat and raise quarters" and Sinkevicius sees upside to estimates and the stock's multiple, he tells investors. Meanwhile, Adient management has recently lowered guidance for the Seating business due to further operational challenges, leaving the analyst seeing limited upside to numbers in the near term, he tells investors. Sinkevicius lowered his price target on Adient shares to $43 from $50 and raised his price target on Lear to $214 from $209.
09/19/18
BUCK
09/19/18
NO CHANGE
Target $150
BUCK
Neutral
Lear price target lowered to $150 from $185 at Buckingham
Buckingham analyst Joseph Amaturo lowered Lear's price target to $150 from $185 and maintained a Neutral rating saying weaker markets and industry-specific headwinds are likely to pressure revenue and profitability going forward. Amaturo sees weaker end market auto volumes, specifically in China and Europe, EM currency weakness, raw material costs, auto cycle concerns, and slower global growth due to trade tensions impacting Lear's profitability.
10/01/18
BARD
10/01/18
DOWNGRADE
BARD
Neutral
Autoliv, TE Connectivity, Methode Electronics downgraded to Neutral at Baird
Baird analyst David Leiker downgraded Autoliv (ALV), Methode Electronics (MEI) and TE Connectivity (TEL) to Neutral from Outperform and lowered his respective price targets to $90 from $120, $39 from $47 and $93 from $105, telling investors in a research note that risk/reward is seen in balance. In a research note on the global automotive sector to investors, Leiker says that while the magnitude of BMW's (BMWYY) recent update equals other adjustments already made, stocks are reacting poorly and current downtrend suggests valuation disconnect will likely persist until greater clarify on 2019 is offered. Top names remain Aptiv (APTV), Lear (LEA) and Visteon (VC), while BorgWarner (BWA), Delphi (DLPH) and Littelfuse (LFUS) remain Outperform-rated.
10/02/18
WOLF
10/02/18
INITIATION
Target $235
WOLF
Outperform
Lear initiated with an Outperform at Wolfe Research
Wolfe Research initiated Lear with an Outperform and $235 price target.
MGA Magna
$50.79

-1.62 (-3.09%)

05/14/18
EVER
05/14/18
INITIATION
Target $80
EVER
Outperform
Magna initiated with an Outperform at Evercore ISI
As noted earlier, Evercore analyst Chris McNalty initiated Magna with an Outperform rating and a price target of $80. The analyst says the company is "hiding in plain sight" the investment opportunity to own a "best-in-class, diversified, mega supplier" with "strong" visibility to transform its business from legacy toward growth over the course of the next cycle. McNalty adds that his Sum-of-Parts valuation model is also "compelling" while anticipating an inflection in margins and accelerating growth in FY19.
08/28/18
WELS
08/28/18
NO CHANGE
WELS
Tentative U.S./Mexico trade deal a starting point for auto stock recovery, says Wells Fargo
Wells Fargo analyst Richard Kwas believes the U.S./Mexico tentative trade deal is a positive for the automotive space in the interim. In his view, part of the recent underperformance has come from trade uncertainty. NA centric supplier names like Magna (MGA) and Tower International (TOWR) could be the biggest beneficiaries. MGA does have material revenue exposure to Canada and therefore the absence of Canada in a final agreement would create some level of complication for the company relative to the rest of supplier group, he notes. Kwas believes the decision to limit non Mexico/U.S. content to 25% of vehicle value coupled with the 40%-45% minimum threshold for $16/hour manufacturing jobs should stabilize or increase U.S. share of vehicle production.
09/13/18
CIBC
09/13/18
UPGRADE
CIBC
Outperformer
Magna upgraded to Outperformer from Neutral at CIBC
09/13/18
09/13/18
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. Snap (SNAP) upgraded to Hold from Sell at Pivotal Research with analyst Brian Wieser saying risks are still present, especially in the near-term, but current trading levels balance those risks with the company' long-term potential. 2. DaVita (DVA) upgraded to Neutral from Underweight at JPMorgan with analyst Gary Taylor saying he now believes is it much more likely that California Governor Brown will veto the recently passed SB1156, which he notes would curtail the financial arbitrage that dialysis providers enjoy from charitable premium assistance. 3. Intel (INTC) upgraded to Market Perform from Underperform at Northland with analyst Auguste Richard saying the stock has corrected 23% from its 52-week high and is down 20% since mid-June. 4. Magna (MGA) upgraded to Outperformer from Neutral at CIBC. 5. Flowserve (FLS) upgraded to Buy from Neutral at Northcoast. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
BWA BorgWarner
$41.70

-1.27 (-2.96%)

07/23/18
OPCO
07/23/18
NO CHANGE
Target $58
OPCO
Outperform
BorgWarner price target lowered to $58 from $63 at Oppenheimer
Oppenheimer analyst Colin Rusch lowered his price target for BorgWarner to $58 from $63 on a lower valuation multiple. The analyst reiterates an Outperform rating on the shares.
10/02/18
WOLF
10/02/18
INITIATION
Target $56
WOLF
Outperform
BorgWarner initiated with an Outperform at Wolfe Research
Wolfe Research initiated BorgWarner with an Outperform and $56 price target.
09/19/18
RBCM
09/19/18
NO CHANGE
Target $49
RBCM
Outperform
BorgWarner price target lowered to $49 from $55 at RBC Capital
RBC Capital analyst Joseph Spak lowered his price target on BorgWarner to $49 after its Analyst Day presentation yesterday, where it lowered its 2018 organic growth expectations to 4.5%-5.5% from 6%-7%. The analyst says the Q3 outlook for organic growth of 3.0%-3.5% implies Q4 outlook of 1%-5% growth range and reflects uncertainty around China production at the end of the year. Longer term, the analyst is positive on the company's expected market share gains in hybrid and battery electric vehicles, keeping his Outperform rating on BorgWarner.
VC Visteon
$88.44

-3.55 (-3.86%)

08/08/18
BARD
08/08/18
NO CHANGE
Target $175
BARD
Outperform
Visteon elevated to Fresh Pick and Top Idea at Baird
Baird analyst David Leiker elevated Visteon to Fresh Pick and Top Idea following Q2 results. The analyst believes the sentiment has deteriorated and that beating expectations on near-term estimates will restore confidence and drive a 20% rally for the stock. He said the backlog still supports his intermediate revenue targets and that headwinds are not backlog related. Leiker reiterated his Outperform rating and $175 price target on Visteon shares.
10/02/18
WOLF
10/02/18
INITIATION
WOLF
Peer Perform
Visteon initiated with a Peer Perform at Wolfe Research
10/04/18
CEDG
10/04/18
INITIATION
Target $130
CEDG
Overweight
Visteon initiated with an Overweight at Consumer Edge
Consumer Edge initiated Visteon with an Overweight and $130 price target.
X U.S. Steel
$29.39

-0.51 (-1.71%)

10/02/18
10/02/18
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. Goldman downgraded ConocoPhillips (COP) to Neutral following share outperformance with analyst Neil Mehta citing valuation. 2. U.S. Steel (X) and Reliance Steel (RS) were downgraded to Hold from Buy at Deutsche Bank. 3. Unilever (UN, UL) downgraded to Hold from Buy at Jefferies with analyst Martin Deboo saying the company is facing "choppier waters" and "higher expectations." 4. Ambev (ABEV) double downgraded to Sell from Buy at UBS with analyst Alan Alanis saying AmBev trades at a 25% higher valuation than parent company AB InBev (BUD), which is unwarranted. 5. Schlumberger (SLB) downgraded to Hold from Buy at Tudor Pickering. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/02/18
DBAB
10/02/18
DOWNGRADE
Target $35
DBAB
Hold
U.S. Steel downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Chris Terry downgraded U.S. Steel to Hold and lowered his price target for the shares to $35 from $47. The analyst says he's becoming more cautious on steel stocks.
10/02/18
10/02/18
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. GE UPGRADED AT RBC, WOLFE: RBC Capital analyst Deane Dray upgraded General Electric (GE) to Outperform from Sector Perform 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. Additionally, GE was upgraded to Outperform from Peer Perform at Wolfe Research. DEUTSCHE SEES HEIGHTENED RISKS TO FACEBOOK ESTIMATES: After attending the first day of AdWeek, Deutsche Bank analyst Lloyd Walmsley sees heightened risk to the Q3, Q4 and 2019 consensus estimates for Facebook (FB). The analyst said he's starting to hear more cautious feedback and that Facebook seems on the defensive, particularly following last week's data breach disclosure. Walmsley, however, continues to view Facebook as attractively valued and kept a Buy rating on the shares with a $205 price target. JPMORGAN ADDS WEIGHT WATCHERS TO FOCUS LIST: JPMorgan analyst Christina Brathwaite added Weight Watchers (WTW) to her firm's America's Analyst Focus while keeping an Overweight rating on the shares with a $120 price target. The stock's 30% pullback from its peak on June 20 presents a "compelling entry point for investors who missed the stock's appreciation the first time around," Brathwaite said. Despite the post-earnings selloff, the analyst believes the Q2 print was actually indicative that Weight Watchers' growth story remains on track. Further, she believes the changes announced last week, including its new rewards program, as well as the company's Invite a Friend program, will help drive member recruitment and retention going forward. AMBEV DOUBLE DOWNGRADED BY UBS: UBS analyst Alan Alanis double downgraded Ambev (ABEV) to Sell from Buy and lowered his price target for the shares to R$17 from R$23. AmBev trades at a 25% higher valuation than parent company AB InBev (BUD), which is unwarranted, Alanis believes. He believes Ambev shares at current levels are more than pricing in the company's favorable outlook. Further, he expects consensus estimates to come down due to a tougher competitive environment, a "tepid" Brazilian economic recovery and currency headwinds. DEUTSCHE DOWNGRADES METAL STOCKS: Deutsche Bank analyst Jeremy Kliewer downgraded Century Aluminum to Hold from Buy and lowered his price target for the shares to $15 from $20, stating that Century's margins could remain pressured for longer due to alumina supply disruptions. Meanwhile, Deutsche's Chris Terry downgraded Reliance Steel (RS) to Hold from Buy and lowered his price target for the shares to $90 from $100, and downgraded U.S. Steel (X) to Hold from Buy and lowered his price target for the shares to $35 from $47. The analyst said his view on the steel sector is "moderating post peak pricing." Most positive data points and catalysts have now largely played out, Terry believes.
10/02/18
DBAB
10/02/18
NO CHANGE
DBAB
Deutsche downgrades Reliance, U.S. Steel on more cautious steel stance
To reflect a more cautious view on steel stocks, Deutsche Bank analyst Chris Terry downgraded both Reliance Steel (RS) and U.S. Steel (X) to Hold from Buy. The analyst says his view on the sector is "moderating post peak pricing." Most positive data points and catalysts have now largely played out, Terry tells investors in a research note. The analyst, however, keeps Buy ratings on Commercial Metals (CMC), Nucor (NUE) and Steel Dynamics (STLD) citing more favorable risk/reward profiles.
AKS AK Steel
$4.83

-0.035 (-0.72%)

09/07/18
09/07/18
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. BOFA DOUBLE UPGRADES AK STEEL: BofA Merrill Lynch analyst Timna Tanners double upgraded AK Steel (AKS) to Buy from Underperform and raised its price target to $6 from $5. Tanners is now modeling 2019 spot benchmark hot rolled coil at $750/short ton versus $700 previously and expects 85% of AK Steel's sheet business that is on fixed-price contracts will have a substantial increase in 2019. In mid-morning trading, AK Steel is up 2%. MACQUARIE CUTS WELLS FARGO TO NEUTRAL: Macquarie analyst David Konrad downgraded Wells Fargo (WFC) to Neutral from Buy with a $63 price target based on valuation and near-term estimates falling below expectations. Konrad said valuation has moved in-line relative to peers following favorable expense guidance and the strong CCAR results, and believes it will take a few more quarters before leverage drives higher earnings. SUSQUEHANNA INITIATES BAIDU, JD.COM: Susquehanna analyst Shyam Patil initiated Baidu (BIDU) with a Positive rating and $325 price target, saying its a 20%+ grower with upside to estimates and the multiple with little downside risk. Patil said the company has several initiatives underway that will drive upside over the near-to-intermediate-term with longer-term AI projects that represent call options. Patil also initiated JD.com (JD) with a Neutral rating and $30 price target, saying he is concerned Alibaba (BABA) will continue to be an e-commerce category killer in China and will remain aggressive in its efforts to take share from JD. GOLDMAN RAISES APPLE TARGET TO $240: Goldman Sachs analyst Rod Hall outlined his expectations for Apple's (AAPL) new product event on September 12, stating that he expects three new iPhones at better price points. He also expects Apple to announce two new AppleCare+ Plans associated with the iPhone 9 and the Xs+ and raised his Services forecast to account for an overall mix of AppleCare+ skewed towards higher priced plans. Hall raised his price target on Apple shares to $240, but maintained a Neutral rating on the stock. BOFA DEFENDS MICRON: BofA Merrill Lynch analyst Simon Woo kept his Buy rating and $100 price target on Micron (MU), saying the fundamentals of the company's earnings remain solid, and the recent correction in the stock price is likely "sentiment related". The analyst notes that the company is still headed for "record-high revenue/profit," and the stalled rise in memory chip prices does not signal a market downturn.
09/11/18
CLKS
09/11/18
UPGRADE
CLKS
Buy
AK Steel upgraded to Buy from Neutral at Clarksons Platou
09/11/18
CLKS
09/11/18
UPGRADE
Target $6
CLKS
Buy
AK Steel upgraded to Buy on higher contract pricing at Clarksons Platou
As previously reported, Clarksons Platou upgraded AK Steel to Buy from Neutral and raised its price target to $6 from $5.50. Analyst Jeremy Sussman expects AK to disproportionally benefit versus peers when it comes to the signing of the upcoming 2019 annual auto contracts, given 2018 annual contracts are well below market.
10/05/18
LBOW
10/05/18
NO CHANGE
Target $6
LBOW
Buy
AK Steel could trade 'solidly above $5,' says Longbow
Longbow analyst Chris Olin believes that AK Steel "could trade solidly above $5" per share as attention shifts toward a higher than expected floor for HRC spot market prices, commentary around 2019 steel contract values, stabilized or improved U.S. automotive production levels and Q4 EBITDA margin guidance. The analyst, who sees the most upside in AK Steel heading into the late-October reports compared to the other steel names he covers, keeps a Buy rating and $6 price target on the stock.
NUE Nucor
$64.29

-0.72 (-1.11%)

08/23/18
FBCO
08/23/18
NO CHANGE
Target $77
FBCO
Outperform
Credit Suisse sees compelling risk/reward for Nucor into earnings
While Credit Suisse analyst Curt Woodworth notes that whether Nucor will finally become the "field of dreams" for investors remains to be seen, he sees compelling risk/reward into earnings the next two quarters. The analyst believes consensus estimates appear "way too low" for Nucor in both Q3 and Q4 as long product and plate prices remain very firm while scrap prices rollover. The doubling of tariffs on Turkey coupled with the Lira devaluation are very bullish for Nucor as the company should be able to hold price in longs/plate while scrap prices continue to fall into September, he adds. Woodworth reiterates an Outperform rating and $77 price target on the shares.
07/24/18
07/24/18
UPGRADE
Target $77

Overweight
Nucor upgraded to Overweight on broadening EPS power at KeyBanc
As previously reported, KeyBanc analyst Philip Gibbs upgraded Nucor to Overweight from Sector Weight, with a $77 price target, given better appreciation of self-help growth initiatives in Fabrication and Raw Materials. Further, the analyst notes that company-specific drivers could add 20% to his EPS power view over time.
09/04/18
UBSW
09/04/18
NO CHANGE
UBSW
UBS still cautious on steel sector, but says caution already priced into stocks
UBS analyst Andreas Bokkenheuser said he remains cautious on the steel sector and said his research shows there is more imports on flat steel than rolled. That is more negative for US Steel (X) and AK Steel (AKS) than Nucor (NUE) and Steel Dynamics (STLD). He also believes the shares are pricing in a steel price correction already, so he expects the equities to outperform the physical prices.
STLD Steel Dynamics
$45.42

-0.31 (-0.68%)

08/27/18
08/27/18
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. First Majestic (AG) upgraded to Outperform from Market Perform at BMO Capital with analyst Ryan Thompson citing his expectations of gross margin improvement following the shutdown of the high-cost La Guitarra mine and the integration of the high-margin San Dimas mine. 2. Papa John's (PZZA) upgraded to Buy from Neutral at Kalinowski with analyst Mark Kalinowski saying he believes the reported hiring of Bank of America and Lazard increases the odds of a favorable outcome over the next 12 months, including the possibility of an acquisition. 3. Portola Pharmaceuticals (PTLA) upgraded to Neutral from Underperform at Credit Suisse with analyst Vamil Divan citing Johnson & Johnson (JNJ) and Bayer's (BAYRY) presentation of disappointing data for Xarelto in the acute medically ill population at ESC. 4. Bancolombia (CIB) upgraded to Neutral from Sell at Citi. 5. AK Steel (AKS) and Steel Dynamics (STLD) were upgraded to Overweight from Equal Weight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/27/18
08/27/18
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. MORGAN STANLEY DOUBLE DOWNGRADES U.S. STEEL: Morgan Stanley analyst Piyush Sood double downgraded U.S. Steel (X) to Underweight from Overweight as he notes that steel prices are falling and he believes the recent price peak is "firmly behind" the market. Sood lowered his price target on U.S. Steel shares to $30 from $44. He prefers AK Steel (AKS), which he upgraded to Overweight from Equal Weight citing its good free cash flow prospects, and also prefers Steel Dynamics (STLD), which he also upgraded to Overweight from Equal Weight. PAPA JOHN'S UPGRADED TO BUY: Kalinowski Equity Research's Mark Kalinowski upgraded Papa John's (PZZA) to Buy from Neutral as he believes the reported hiring of Bank of America and Lazard increases the odds of a favorable outcome over the next 12 months, including the possibility of an acquisition. He noted that CNBC reports the company "isn't currently exploring a sale," but he believes a sale makes a lot of sense. BLOOM ENERGY CUT TO UNDERPERFORM: Credit Suisse analyst Michael Weinstein downgraded Bloom Energy (BE) to Underperform from Neutral, with a $24 price target on the stock, on valuation. While the analyst acknowledged the disruptive potential of Bloom Energy's technology, the stock is now trading at a premium. Although the company has shown impressive success so far, much work remains to be done to continue lowering costs and deliver next generation improvements, he contended. WEDBUSH CUTS CHIPOTLE TO UNDERPERFORM: Wedbush analyst Nick Setyan downgraded Chipotle Mexican Grill (CMG) to Underperform from Neutral and lowered his price target for the shares to $445 from $450. Setyan sees increased risk to Chipotle's near-term same-store-sales growth and margin expectations, and continues to see risk to margin expectations through 2020. Quarter-to-date checks suggest risk to the current Q3 consensus same-store-sales growth expectation, Setyan said. Further, the analyst believes that while theoretical drivers towards 2019 same-store-sales growth expectations exist, the risks are underappreciated.
AA Alcoa
$42.08

-1.025 (-2.38%)

09/12/18
RILY
09/12/18
UPGRADE
Target $50
RILY
Buy
Alcoa upgraded to Buy from Neutral at B. Riley FBR
B. Riley FBR analyst Lucas Pipes upgraded Alcoa to Buy and raised his price target for the shares to $50 from $48.
09/12/18
RILY
09/12/18
UPGRADE
Target $50
RILY
Buy
B. Riley FBR upgrades Alcoa to Buy on elevated alumina prices
B. Riley FBR analyst Lucas Pipes earlier today upgraded Alcoa (AA) to Buy from Neutral and raised his price target for the shares to $50 from $48. The analyst says Alumina prices have exceeded his expectations and that the "current elevated price benefits Alcoa disproportionately." Further, with a Rusal sanction resolution unlikely and Alunorte not expected at full capacity until mid-2019, the trends for alumina are bullish, Pipes tells investors in a research note. He keeps a Buy rating on Century Aluminum (CENX) while lowering his price target for the shares to $23 from $25. Alcoa in early trading is up 10c to $40.97.
09/21/18
BREN
09/21/18
INITIATION
Target $54
BREN
Buy
Alcoa initiated with a Buy at Berenberg
Berenberg analyst Paretosh Misra initiated Alcoa with a Buy and $54 price target due to improved aluminum market fundamentals and outlook and sees upside into the winter supply curtailment in China.
09/25/18
FBCO
09/25/18
NO CHANGE
Target $58
FBCO
Outperform
Alcoa price target lowered to $58 from $65 at Credit Suisse
Credit Suisse analyst Curt Woodworth lowered his price target for Alcoa to $58 from $65 as he believes the company's Q3 results will be negatively impacted by dynamics with higher profitability in the alumina segment and some cost creep in the smelter portfolio. The analyst reiterates an Outperform rating on the shares.
ARNC Arconic
$21.83

-0.38 (-1.71%)

08/22/18
ARGS
08/22/18
NO CHANGE
ARGS
Hold
Argus looking for upgrade opportunity for Arconic
Argus analyst John Eade kept his Hold rating on Arconic but noted that he is looking to get more constructive on the company, stating that while the stock has outperformed the market over the past quarter, the performance over the past year has been much worse. Eade believes that the new management's key challenge is the rise in the input costs, but notes that he would consider returning the stock to the Buy list when margins show some signs of stabilizing.
09/17/18
LBOW
09/17/18
DOWNGRADE
LBOW
Neutral
Arconic downgraded to Neutral from Buy at Longbow
07/16/18
FBCO
07/16/18
NO CHANGE
Target $28
FBCO
Outperform
Arconic could be worth $24-$26 per share in buyout, says Credit Suisse
Credit Suisse analyst Curt Woodworth views Arconic (ARNC) as a "very viable" leveraged buyout candidate given its "highly depressed" multiples, operational and financial mismanagement, and "very strong" positions in automotive and aerospace end markets. The analyst believes the company could be worth $24-$26 per share in a buyout. The stock in morning trading is up 9%, or $1.60, to $18.98 after the Wall Street Journal reported that Arconic is the subject of takeover interest from private equity firms including Apollo Global Management (APO). Woodworth has an Outperform rating on the shares with a $28 price target.
09/17/18
09/17/18
DOWNGRADE

Neutral
Arconic downgraded to Neutral on valuation at Longbow
As previously reported, Longbow downgraded Arconic to Neutral from Buy. Analyst Chris Olin cites valuation, limited upside to EP&S Segment margins and recent checks that appear evenly balanced for his change in view.
CENX Century Aluminum
$9.96

-0.27 (-2.64%)

10/04/18
RILY
10/04/18
NO CHANGE
Target $20
RILY
Buy
Century Aluminum price target lowered to $20 from $23 at B. Riley FBR
B. Riley FBR analyst Lucas Pipes lowered his price target for Century Aluminum to $20 after adjusting his estimates for the company and Aloca (AA) to reflect expected Q3 price realizations and his firm's upgraded long-term price deck. The analyst keeps a Buy rating on the shares.
10/02/18
DBAB
10/02/18
DOWNGRADE
Target $15
DBAB
Hold
Century Aluminum downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Chris Terry downgraded Century Aluminum to Hold and lowered his price target for the shares to $15 from $20. The analyst sees growing risks and reduced upside potential at current share levels.
10/02/18
DBAB
10/02/18
DOWNGRADE
Target $15
DBAB
Hold
Deutsche downgrades Century Aluminum on growing risks, reduced upside
Deutsche Bank analyst Jeremy Kliewer downgraded Century Aluminum to Hold from Buy and lowered his price target for the shares to $15 from $20. Century's margins could remain pressured for longer due to alumina supply disruptions, Kliewer tells investors in a research note. Further, the analyst feels little progress has been made with Santee Cooper, the electrical supplier at the company's Mt. Holly smelter, and that support for import tariffs may decline further following the November mid-term elections. As such, the analyst sees reduced upside potential and growing risk for Century Aluminum shares.
PEIX Pacific Ethanol
$1.89

-0.03 (-1.56%)

11/28/17
RILY
11/28/17
INITIATION
Target $7
RILY
Buy
Pacific Ethanol initiated with a Buy at B. Riley FBR
B. Riley FBR analyst Carter Driscoll started Pacific Ethanol with a Buy rating and $7 price target citing operational improvements and "healthier" industry dynamics.
10/20/17
CHLM
10/20/17
NO CHANGE
CHLM
EPA commitment removes Pacific Ethanol, Green Plains overhang, says Craig-Hallum
Craig-Hallum analyst Eric Stine noted reports that EPA Commissioner Scott Pruitt has sent a letter to seven senators expressing his support for the Renewable Fuel Standard, which he sees supporting his belief that regulatory concerns are overblown. The analyst added that this news w removes a "sizable uncertainty for the industry" and an overhang for Pacific Ethanol (PEIX) and Green Plains (GPRE).
10/03/18
CHLM
10/03/18
NO CHANGE
CHLM
Buy
Trump's potential waiver for year-round sale of E15 positive for industry, says Craig-Hallum
Commenting on indications that President Trump will ask the EPA next week to grant a waiver for the year-round sale of E15, Craig-Hallum analyst Eric Stine says he believes the chances are high that this will happen given the importance of the farm vote to midterm elections and Trump's re-election prospects. The analyst believes this would be a strong positive for the industry and would positively impact industry demand in 2019. Stine reiterates a Buy rating on Pacific Ethanol (PEIX) and Green Plains (GPRE) shares.
GPRE Green Plains
$17.62

0.12 (0.69%)

07/31/18
ROTH
07/31/18
NO CHANGE
Target $25
ROTH
Buy
Roth Capital sees selloff in Green Plains as overdone
Roth Capital analyst Craig Irwin sees the selloff in Green Plains as overdone, as ethanol has the clear support of President Trump, and positive policy changes are likely to materialize at some point this year. Short-term volatility with corn prices pressured on trade tensions with China likely benefits Ethanol profits in 2H18, he adds. The analyst reiterates a Buy rating and $25 price target on the shares.
06/28/18
06/28/18
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. AeroVironment (AVAV) downgraded to Hold from Buy at Stifel with analyst Joseph DeNardi citing valuation, but he continues to maintain a positive bias on the stock. 2. Beacon Roofing (BECN) downgraded to Sector Perform from Outperform at RBC Capital with analyst Michael Eisen saying he sees a threat to consensus estimates based on the higher oil price and freight costs amid declining industry demand. 3. Green Plains (GPRE) downgraded to Equal Weight from Overweight at Stephens with analyst Farha Aslam stating that its restructuring plan is a long-term positive, but in the near-term the company may be "forced to cut muscle." 4. Mattel (MAT) downgraded to Underperform from Neutral at DA Davidson with analyst Linda Bolton Weiser noting that the stock price has risen 29% from its April low even though the company's fundamentals have not improved. 5. Aquinox (AQXP) downgraded to Hold from Buy at Needham with analyst Alan Carr noting that the company's Phase 3 trial of rosiptor in Interstitial Cyrstitis failed to demonstrate efficacy, with no evidence of activity at any point or within any subset of patient subset. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here
06/28/18
06/28/18
DOWNGRADE
Target $20

Equal Weight
Green Plains downgraded to Equal Weight with $20 price target at Stephens
As previously reported, Stephens analyst Farha Aslam downgraded Green Plains to Equal Weight from Overweight, stating that its restructuring plan is a long-term positive, but in the near-term the Company may be "forced to cut muscle." Also, Aslam believes the 18% rally over the last 6 months prices in much of the potential from Chinese purchases of U.S. ethanol, she tells investors. The analyst lowered her price target on Green Plains shares to $20 from $32.

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LMT

Lockheed Martin

$294.53

-6.53 (-2.17%)

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Altus Midstream Company

$8.35

-0.28 (-3.24%)

17:20
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Altus Midstream Company files to sell 360.5M shares of Class A common for holder »

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Altus Midstream Company

$8.35

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17:19
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Altus Midstream Company files to sell 12.56M shares of Class A common stock »

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Breaking Hot Stocks news story on Icahn Enterprises, Energen »

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D

Dominion

$74.40

0.82 (1.11%)

, SCG

Scana

$43.70

0.75 (1.75%)

17:18
11/19/18
11/19
17:18
11/19/18
17:18
Hot Stocks
NCUC approves Dominion-SCANA combination »

The proposed combination…

D

Dominion

$74.40

0.82 (1.11%)

SCG

Scana

$43.70

0.75 (1.75%)

03/08/13
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NOC

Northrop Grumman

$269.40

-3.14 (-1.15%)

17:17
11/19/18
11/19
17:17
11/19/18
17:17
Hot Stocks
Northrop Grumman awarded $489.92M Air Force contract »

Northrop Grumman has been…

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  • 27

    Nov

CLDR

Cloudera

$11.23

-0.915 (-7.53%)

, HDP

Hortonworks

$14.52

-1.23 (-7.81%)

17:17
11/19/18
11/19
17:17
11/19/18
17:17
Hot Stocks
Hortonworks, Cloudera terminate waiting period for proposed merger »

Cloudera (CLDR) and…

CLDR

Cloudera

$11.23

-0.915 (-7.53%)

HDP

Hortonworks

$14.52

-1.23 (-7.81%)

03/08/13
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  • 05

    Dec

  • 06

    Dec

PLSE

Pulse Biosciences

$13.35

0.545 (4.26%)

17:16
11/19/18
11/19
17:16
11/19/18
17:16
Syndicate
Pulse Biosciences commences $45M rights offering »

Pulse Biosciences…

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XYL

Xylem

$69.46

-1.38 (-1.95%)

17:15
11/19/18
11/19
17:15
11/19/18
17:15
Hot Stocks
Xylem signs MOU with Ethiopia government on water security »

Xylem has signed a…

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  • 27

    Nov

NOC

Northrop Grumman

$269.40

-3.14 (-1.15%)

, SAIC

SAIC

$68.30

-2.18 (-3.09%)

17:12
11/19/18
11/19
17:12
11/19/18
17:12
Hot Stocks
Northrop Grumman, SAIC and others awarded $577.47M in Navy contracts »

Northrop Grumman (NOC),…

NOC

Northrop Grumman

$269.40

-3.14 (-1.15%)

SAIC

SAIC

$68.30

-2.18 (-3.09%)

GD

General Dynamics

$179.25

-3.86 (-2.11%)

BAH

Booz Allen

$51.90

-0.79 (-1.50%)

03/08/13
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  • 27

    Nov

  • 06

    Dec

  • 11

    Jan

IR

Ingersoll-Rand

$103.29

-1.045 (-1.00%)

17:12
11/19/18
11/19
17:12
11/19/18
17:12
Initiation
Ingersoll-Rand initiated  »

Ingersoll-Rand initiated…

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  • 27

    Nov

CARB

Carbonite

$25.89

-1.78 (-6.43%)

17:11
11/19/18
11/19
17:11
11/19/18
17:11
Hot Stocks
Carbonite announces $50M stock repurchase program »

Carbonite announced that…

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PES

Pioneer Energy

$2.75

-0.01 (-0.36%)

17:11
11/19/18
11/19
17:11
11/19/18
17:11
Initiation
Pioneer Energy initiated  »

Pioneer Energy initiated…

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  • 26

    Nov

RNGR

Ranger Energy

$7.62

-0.53 (-6.50%)

17:10
11/19/18
11/19
17:10
11/19/18
17:10
Initiation
Ranger Energy initiated  »

Ranger Energy initiated…

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SERV

ServiceMaster

$41.84

-0.58 (-1.37%)

17:09
11/19/18
11/19
17:09
11/19/18
17:09
Initiation
ServiceMaster initiated  »

ServiceMaster initiated…

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  • 11

    Dec

KLIC

Kulicke & Soffa

$19.90

-0.96 (-4.60%)

17:06
11/19/18
11/19
17:06
11/19/18
17:06
Earnings
Kulicke & Soffa sees Q1 revenue $150M-$160M, consensus $191.06M »

Looking forward, Dr.…

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  • 19

    Nov

  • 11

    Dec

KLIC

Kulicke & Soffa

$19.90

-0.96 (-4.60%)

17:04
11/19/18
11/19
17:04
11/19/18
17:04
Earnings
Kulicke & Soffa reports Q4 EPS 45c versus 62c in Q4 last year »

Reports Q4 revenue…

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  • 19

    Nov

  • 11

    Dec

ENTG

Entegris

$26.20

-1.07 (-3.92%)

17:04
11/19/18
11/19
17:04
11/19/18
17:04
Hot Stocks
Entegris announces additional $250M share repurchase authorization »

Entegris announced that…

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  • 27

    Nov

SCI

Service Corp.

$44.69

-0.185 (-0.41%)

17:03
11/19/18
11/19
17:03
11/19/18
17:03
Hot Stocks
Service Corp. exec Sangalis sells 23,617 common shares »

In a regulatory filing,…

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EEX

Emerald Expositions Events

$10.92

-0.63 (-5.45%)

17:02
11/19/18
11/19
17:02
11/19/18
17:02
Initiation
Emerald Expositions Events initiated  »

Emerald Expositions…

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CTAS

Cintas

$179.63

-3.47 (-1.90%)

16:58
11/19/18
11/19
16:58
11/19/18
16:58
Initiation
Cintas initiated  »

Cintas initiated with an…

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ARMK

Aramark

$35.81

-1.045 (-2.84%)

16:52
11/19/18
11/19
16:52
11/19/18
16:52
Initiation
Aramark initiated  »

Aramark initiated with an…

03/08/13
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ADT

ADT Inc.

$7.68

-0.39 (-4.83%)

, AMZN

Amazon.com

$1,511.67

-81.92 (-5.14%)

16:48
11/19/18
11/19
16:48
11/19/18
16:48
Initiation
ADT Inc., Amazon.com initiated  »

ADT Inc. initiated with…

ADT

ADT Inc.

$7.68

-0.39 (-4.83%)

AMZN

Amazon.com

$1,511.67

-81.92 (-5.14%)

03/08/13
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  • 27

    Nov

  • 28

    Nov

  • 04

    Dec

NUAN

Nuance

$16.27

-0.61 (-3.61%)

16:48
11/19/18
11/19
16:48
11/19/18
16:48
Hot Stocks
Nuance trades higher after quarterly report, plans to spin off Nuance Auto »

Shares of Nuance…

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  • 19

    Nov

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