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KKR

KKR

$24.26

-0.14 (-0.57%)

07:00
10/12/18
10/12
07:00
10/12/18
07:00

KKR to acquire Minnesota Rubber and Plastics from Norwest Equity Partners

Quadion LLC, d.b.a. Minnesota Rubber and Plastics, announced that it is being acquired by KKR, from Norwest Equity Partners, a Minneapolis-based middle-market equity investment firm. This transaction marks KKR's second acquisition of a middle-market business in the industrials sector and is being funded through KKR's Americas XII Fund. Financial details of the transaction were not disclosed. This transaction, which is subject to regulatory approvals and other customary closing conditions, is expected to close by year-end 2018.

  • 25

    Oct

KKR KKR
$24.26

-0.14 (-0.57%)

08/22/18
WELS
08/22/18
UPGRADE
Target $22
WELS
Outperform
KKR Real Estate Finance upgraded to Outperform with $22 target at Wells Fargo
Wells Fargo analyst Donald Fandetti upgraded KKR Real Estate Finance (KREF) to Outperform from Market Perform and raised his price target for the shares to $22 from $20. The company is gaining traction through leveraging KKR (KKR) for both originations and unique financing vehicles, Fandetti tells investors in a research note. Further, he sees multiple expansion for the commercial mortgage REITs as "equity markets catch up with spread tightening in the debt markets." In addition, lending markets are "healthy" despite the rise in 10-year U.S. Treasury yields, Fandetti contends.
09/14/18
MSCO
09/14/18
NO CHANGE
Target $42
MSCO
Overweight
Morgan Stanley says Blackstone valuation gap with KKR unjustified
With KKR (KKR) up 41% in the last twelve months, the shares of Blackstone (BX) are now trading at their lowest relative valuation to the former, which Morgan Stanley analyst Michael Cyprys said he views as unjustified. He attributes a mix of C-corp conversion, CRSP index inclusion, and strong asset gathering and fee growth at KKR for the strength, but also believes Blackstone's upcoming investor day on September 21 could be a catalyst to fix the "valuation disconnect." While he doesn't expect a C-corp conversion announcement in the near-term, Cyprys wouldn't be surprised to see Blackstone follow KKR's lead and shift toward a cash earnings approach from reporting on a more volatile mark to market basis, he tells investors. The analyst, who could see a $50 valuation for Blackstone if the stock re-rates to its historical premium to KKR, keeps an Overweight rating and $42 price target on Blackstone shares.
10/10/18
BOFA
10/10/18
DOWNGRADE
Target $28
BOFA
Neutral
KKR downgraded to Neutral from Buy at BofA/Merrill
BofA Merrill Lynch analyst Michael Carrier downgraded KKR to Neutral from Buy citing the stock's fuller valuation following the company's C-corp conversion, though he still sees current trends as remaining favorable. He lowered his price target on KKR shares to $28 from $31.
10/10/18
10/10/18
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. Vipshop (VIPS) downgraded to Neutral from Overweight at JPMorgan with analyst Alex Yao saying as the "tough competitive environment and harder-than-expected synergy generation," Vipshop is likely to adjust its strategy to re-focus on core off-season apparel distribution and prioritize profitability over sales growth. 2. International Paper (IP) downgraded to Neutral from Buy at Goldman Sachs while WestRock (WRK) was downgraded to Buy from Conviction Buy. 3. Clorox (CLX), Church & Dwight (CHD), and Kimberly-Clark (KMB) were downgraded to Sell from Hold at Deutsche Bank. 4. Sherwin-Williams (SHW) downgraded to Neutral from Buy at Citi with analyst P.J. Juvekar saying "tough" market comments from companies like H.B. Fuller (FUL), PPG (PPG) and RPM (RPL) suggest that coatings companies are likely to be challenged by rising raw materials costs and slowing growth in key end markets, including China. 5. KKR (KKR) downgraded to Neutral from Buy at BofA/Merrill with analyst Michael Carrier citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

GOOG

Alphabet

$1,113.91

-4.25 (-0.38%)

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Alphabet Class A

$1,120.60

-5.83 (-0.52%)

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GOOG

Alphabet

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-4.25 (-0.38%)

GOOGL

Alphabet Class A

$1,120.60

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    Mar

PLAB

Photronics

$11.34

-0.05 (-0.44%)

06:26
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  • 21

    Feb

TPC

Tutor Perini

$17.72

0.25 (1.43%)

06:25
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Tutor Perini awarded $253M contract by MTA New York City Transit »

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  • 27

    Feb

STNG

Scorpio Tankers

$19.66

-0.28 (-1.40%)

06:24
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Conference/Events
Scorpio Tankers management to meet with BTIG »

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  • 21

    Feb

DIN

Dine Brands

$88.52

1.08 (1.24%)

06:24
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Hot Stocks
Dine Brands board approves 10% increase to quarterly dividend to 69c per share »

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  • 21

    Feb

GMDA

Gamida Cell

$13.46

0.01 (0.07%)

06:23
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Gamida Cell presents new data from NAM-NK and NiCord programs »

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  • 21

    Feb

DIN

Dine Brands

$88.52

1.08 (1.24%)

06:22
02/21/19
02/21
06:22
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06:22
Earnings
Dine Brands sees FY19 adjusted EPS $6.90-$7.20, consensus $6.93 »

Applebee's domestic…

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  • 21

    Feb

LPCN

Lipocine

$1.71

(0.00%)

06:22
02/21/19
02/21
06:22
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06:22
Conference/Events
Lipocine management to meet with Roth Capital »

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  • 21

    Feb

KURA

Kura Oncology

$15.06

-0.22 (-1.44%)

06:22
02/21/19
02/21
06:22
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06:22
Conference/Events
Kura Oncology management to meet with Piper Jaffray »

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  • 21

    Feb

DIN

Dine Brands

$88.52

1.08 (1.24%)

06:21
02/21/19
02/21
06:21
02/21/19
06:21
Earnings
Dine Brands reports Q4 adjusted EPS $1.70, consensus $1.57 »

Reports Q4 revenue…

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  • 21

    Feb

JSAIY

J Sainsbury

$0.00

(0.00%)

06:21
02/21/19
02/21
06:21
02/21/19
06:21
Downgrade
J Sainsbury rating change  »

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03/08/13
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KNX

Knight-Swift

$34.71

0.475 (1.39%)

06:21
02/21/19
02/21
06:21
02/21/19
06:21
Conference/Events
Knight-Swift management to meet with Stephens »

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  • 21

    Feb

KIDS

OrthoPediatrics

$38.34

0.96 (2.57%)

06:21
02/21/19
02/21
06:21
02/21/19
06:21
Conference/Events
OrthoPediatrics management to meet with Piper Jaffray »

Meetings to be held in…

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  • 21

    Feb

  • 26

    Mar

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    Mar

GDOT

Green Dot

$74.69

-0.05 (-0.07%)

06:20
02/21/19
02/21
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06:20
Recommendations
Green Dot analyst commentary  »

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LOPE

Grand Canyon

$97.13

0.18 (0.19%)

06:20
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02/21
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Recommendations
Grand Canyon analyst commentary  »

Grand Canyon correction…

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KAI

Kadant

$89.52

1.55 (1.76%)

06:19
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Conference/Events
Kadant management to meet with Barrington »

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  • 21

    Feb

SCBFF

Standard Chartered

$0.00

(0.00%)

06:19
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Periodicals
Standard Chartered earmarks $900M for U.S., UK fines, FT reports »

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PQG

PQ Group

$16.71

0.16 (0.97%)

06:18
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Earnings
Breaking Earnings news story on PQ Group »

PQ Group sees FY19…

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  • 21

    Feb

PQG

PQ Group

$16.71

0.16 (0.97%)

06:18
02/21/19
02/21
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06:18
Earnings
PQ Group sees FY19 revenue $1.64B-$1.67B, consensus $1.68B »

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  • 21

    Feb

PQG

PQ Group

$16.71

0.16 (0.97%)

06:16
02/21/19
02/21
06:16
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06:16
Earnings
PQ Group reports Q4 adjusted EPS 17c, consensus 13c »

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  • 21

    Feb

TEF

Telefonica

$8.73

0.07 (0.81%)

, TIGO

Millicom

$60.25

(0.00%)

06:16
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Hot Stocks
Millicom buys Telefonica mobile businesses in Central America for $1.65B »

Millicom International…

TEF

Telefonica

$8.73

0.07 (0.81%)

TIGO

Millicom

$60.25

(0.00%)

03/08/13
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03/06/13
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03/06/13
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  • 21

    Feb

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    Mar

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    Mar

HTGC

Hercules Capital

$13.12

0.07 (0.54%)

06:15
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Hot Stocks
Hercules Capital names Seth Meyer as CFO »

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  • 21

    Feb

JOUT

Johnson Outdoors

$65.68

-0.23 (-0.35%)

06:15
02/21/19
02/21
06:15
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Conference/Events
Johnson Outdoors management to meet with Oppenheimer »

Meetings to be held in…

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  • 21

    Feb

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    Feb

  • 28

    Feb

  • 28

    Feb

CGC

Canopy Growth

$46.18

-0.2 (-0.43%)

06:14
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Recommendations
Canopy Growth analyst commentary  »

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SAP

SAP

$106.91

0.08 (0.07%)

06:14
02/21/19
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Hot Stocks
SAP board recommends FY18 dividend increase of 7% to EUR1.50 per share »

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  • 25

    Feb

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