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BLK

BlackRock

$427.58

9.59 (2.29%)

, JPM

JPMorgan

$106.88

-1.18 (-1.09%)

06:14
10/15/18
10/15
06:14
10/15/18
06:14

BlackRock's Larry Fink pulls out of Saudi investment conference, CNBC says

The Fly notes that JPMorgan (JPM) CEO Jamie Dimon and Ford (F) Chairman Bill Ford also canceled plans for the Saudi summit.

BLK

BlackRock

$427.58

9.59 (2.29%)

JPM

JPMorgan

$106.88

-1.18 (-1.09%)

F

Ford

$8.65

-0.16 (-1.82%)

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    Oct

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    Oct

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    Oct

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    Oct

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    Oct

  • 13

    Dec

  • 26

    Feb

BLK BlackRock
$427.58

9.59 (2.29%)

07/13/18
KBWI
07/13/18
UPGRADE
KBWI
Outperform
BlackRock upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Robert Lee upgraded BlackRock to Outperform saying shares deserve a premium valuation given its strong secular position and views the recent sell-off as a buying opportunity. The analyst believes BlackRock will be able to sustain an organic growth rate over time in the mid-single-digit range, driving a premium valuation versus peers. Lee trimmed his price target on BlackRock to $590 from $617.
07/17/18
GSCO
07/17/18
NO CHANGE
Target $570
GSCO
Buy
BlackRock price target lowered to $570 from $605 at Goldman Sachs
Goldman Sachs analyst Alexander Blostein lowered his price target on BlackRock to $570 after its Q2 results, which highlighted a "challenging market backdrop" along with a deceleration in the company's organic fee growth to 4% from 7%. The analyst keeps his Buy rating on BlackRock however, stating that the slowdown in fees was likely "market driven" and does not reflect "company specific weaknesses", adding that BlackRock still has the "operating flexibility to deliver above trend operating income growth, while accelerating technology revenue growth". Blostein lowers his FY18 EPS forecast to $27.57 from $27.96 and FY19 to $30.81 from $31.64 to reflect lowers asset under management levels and lower ETF fee rates partially offset by stronger technology revenues and more accretion from stock buybacks.
07/13/18
07/13/18
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. VF Corp. (VFC) upgraded two notches to Buy from Underperform at BofA/Merrill with analyst Robert Ohmes saying he believes Vans momentum is sustainable and will be a "go-to-brand" for the back-to-school selling season. 2. United Rentals (URI) and Herc Holdings (HRI) were upgraded to Buy from Neutral at Buckingham. 3. Raymond James (RJF) upgraded to Buy from Neutral at Citi with analyst William Katz saying he still prefers alternative managers. 4. M.D.C. Holdings (MDC) upgraded to Neutral from Underweight at JPMorgan with analyst Michael Rehaut saying the current valuation appropriately reflects his outlook for above average order growth and margin expansion in 2018. 5. BlackRock (BLK) upgraded to Outperform from Market Perform at Keefe Bruyette with analyst Robert Lee saying shares deserve a premium valuation given its strong secular position and views the recent sell-off as a buying opportunity. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/11/18
WELS
10/11/18
NO CHANGE
Target $510
WELS
Market Perform
BlackRock price target lowered to $510 from $545 at Wells Fargo
Wells Fargo analyst Christopher Harris lowered his price target for BlackRock to $510 from $545, while reiterating a Market Perform rating on the shares. Mainly because of strong U.S. equity market action, the analyst is increasing his estimate of September 30 assets under management by 1.3%. However, for the quarter, this earnings benefit is offset by lower fee-rate and performance fee assumptions, leading to a decrease in his Q3 EPS estimate.
JPM JPMorgan
$106.88

-1.18 (-1.09%)

10/03/18
BERN
10/03/18
NO CHANGE
BERN
Amazon to be accelerant of disruption coming for healthcare, says Bernstein
Bernstein analyst Lance Wilkes believes disruption is coming for healthcare and that Amazon (AMZN) will be an accelerant of this disruption. Further, the analyst sees a parallel with the fast changes in health insurance which took place in the 90's, when health insurance changed from 90% indemnity to 80% managed care within ten years. Wilkes thinks Amazon is developing a series of business strategies for entering healthcare market segments, namely directly entering online pharmacy, creating a disruptor in the employer healthcare space through its venture with Berkshire (BRK.A) and JPMorgan (JPM), and entering digital consumer healthcare spaces including using Alexa for consumer engagement and behavior modification.
08/22/18
SBSH
08/22/18
NO CHANGE
SBSH
JPMorgan mobile trading platform 'another salvo' on online brokers, says Citi
JPMorgan's (JPM) reported zero cost mobile trading service to be launched next week is "another salvo" in the war on broker dealers' fundamentals, Citi analyst William Katz tells investors in a research note. JPMorgan's move further underscores the commoditization risk to pricing across the retail broker dealer complex, particularly online brokers, the analyst adds. Further, he believes the new product adds an additional degree of difficulty to pricing a potential E-Trade (ETFC) acquisition or other retail broker deals. The analyst's work suggests negative 3% and negative 1% earnings risk to TD Ameritrade (AMTD) and Charles Schwab (SCHW), respectively. However, Katz believes much of the negativity is already priced into Ameritrade following yesterday's selloff. For Schwab, he believes continued pressure on Investor Services presents further downside risk in the stock from here.
08/22/18
DBAB
08/22/18
NO CHANGE
DBAB
JPMorgan mobile launch a catalyst for industry consolidation, says Deutsche
Deutsche Bank analyst Brian Bedell believes JPMorgan's (JPM) reported rollout of online trading to its 47M customers next week should be a catalyst for online broker industry consolidation. The analyst believes the news supports his TD Ameritrade (AMTD), E-Trade (ETFC) merger scenario thesis. He points out that his model already includes "substantial" trade price compression.
09/25/18
WOLF
09/25/18
INITIATION
Target $140
WOLF
Outperform
JPMorgan initiated with an Outperform at Wolfe Research
Wolfe Research analyst Steven Chubak initiated JPMorgan with an Outperform and $140 price target.
F Ford
$8.65

-0.16 (-1.82%)

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.
09/26/18
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."
09/19/18
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.

TODAY'S FREE FLY STORIES

IPHS

Innophos Holdings

$35.36

-0.06 (-0.17%)

07:31
10/21/19
10/21
07:31
10/21/19
07:31
Hot Stocks
Breaking Hot Stocks news story on Innophos Holdings »

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LII

Lennox

$253.21

2.38 (0.95%)

07:30
10/21/19
10/21
07:30
10/21/19
07:30
Earnings
Lennox reports Q3 adjusted EPS $3.34, consensus $3.41 »

Reports Q3 revenue…

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  • 21

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    Nov

NIO

NIO Inc.

$1.52

0.055 (3.75%)

, X

U.S. Steel

$10.72

0.1 (0.94%)

07:30
10/21/19
10/21
07:30
10/21/19
07:30
Options
Unusual put flow in option market yesterday »

Notable put activity was…

NIO

NIO Inc.

$1.52

0.055 (3.75%)

X

U.S. Steel

$10.72

0.1 (0.94%)

ECA

Encana

$4.08

-0.155 (-3.66%)

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

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BMCH

BMC Stock Holdings

$28.44

0.36 (1.28%)

07:26
10/21/19
10/21
07:26
10/21/19
07:26
Recommendations
BMC Stock Holdings analyst commentary  »

BMC Stock Holdings price…

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  • 05

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IPHS

Innophos Holdings

$35.36

-0.06 (-0.17%)

07:26
10/21/19
10/21
07:26
10/21/19
07:26
Hot Stocks
Breaking Hot Stocks news story on Innophos Holdings »

Innophos Holdings trading…

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

Sensient

$60.17

-6.4 (-9.61%)

07:26
10/21/19
10/21
07:26
10/21/19
07:26
Downgrade
Sensient rating change  »

Seaport Global downgrades…

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

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PBF

PBF Energy

$29.29

0.64 (2.23%)

07:25
10/21/19
10/21
07:25
10/21/19
07:25
Upgrade
PBF Energy rating change  »

PBF Energy upgraded to…

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

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  • 31

    Oct

CG

Carlyle Group

$26.99

-0.14 (-0.52%)

07:22
10/21/19
10/21
07:22
10/21/19
07:22
Hot Stocks
United Road acquires Team Drive-Away from CID Capital, terms not disclosed »

United Road, in…

03/08/13
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Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 28

    Oct

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    Oct

PTON

Peloton

$23.44

-0.41 (-1.72%)

07:21
10/21/19
10/21
07:21
10/21/19
07:21
Initiation
Peloton initiated  »

Peloton initiated with an…

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

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EOG

EOG Resources

$64.47

-2.25 (-3.37%)

07:21
10/21/19
10/21
07:21
10/21/19
07:21
Downgrade
EOG Resources rating change  »

EOG Resources downgraded…

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

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  • 07

    Nov

LOAN

Manhattan Bridge Capital

$6.37

0.02 (0.31%)

07:20
10/21/19
10/21
07:20
10/21/19
07:20
Earnings
Manhattan Bridge Capital reports Q3 EPS 12c, one est. 11c »

1Reports Q3 revenue…

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

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VZ

Verizon

$61.05

0.64 (1.06%)

07:20
10/21/19
10/21
07:20
10/21/19
07:20
Periodicals
Verizon seeking buyer for HuffPost website, FT reports »

Verizon is seeking a…

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

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  • 22

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    Oct

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    Oct

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    Dec

URGN

UroGen Pharma

$22.34

0.06 (0.27%)

07:20
10/21/19
10/21
07:20
10/21/19
07:20
Recommendations
UroGen Pharma analyst commentary  »

UroGen Pharma recent…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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07:20
10/21/19
10/21
07:20
10/21/19
07:20
General news
Treasury Market Outlook: yields are modestly higher as stocks rally »

Treasury Market Outlook:…

VLRX

Valeritas

$1.33

(0.00%)

07:18
10/21/19
10/21
07:18
10/21/19
07:18
Hot Stocks
Valeritas reports results from study on infusion of GLP-1 analogue with h-Patch »

Valeritas Holdings…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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FOMX

Foamix

$3.16

-0.08 (-2.47%)

07:17
10/21/19
10/21
07:17
10/21/19
07:17
Recommendations
Foamix analyst commentary  »

Foamix price target…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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BA

Boeing

$344.09

-25.04 (-6.78%)

07:17
10/21/19
10/21
07:17
10/21/19
07:17
Recommendations
Boeing analyst commentary  »

Boeing price target…

03/08/13
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03/08/13
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03/06/13
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  • 23

    Oct

MNTA

Momenta

$14.43

0.3 (2.12%)

07:17
10/21/19
10/21
07:17
10/21/19
07:17
Conference/Events
Momenta management to meet with Piper Jaffray »

Meeting to be held in…

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  • 24

    Oct

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  • 07

    Dec

HSIC

Henry Schein

$62.79

-0.72 (-1.13%)

07:16
10/21/19
10/21
07:16
10/21/19
07:16
Hot Stocks
Henry Schein to be dismissed from Summit County opioid litigation »

Henry Schein announced…

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  • 08

    Nov

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    Dec

MYGN

Myriad Genetics

$30.56

0.24 (0.79%)

07:16
10/21/19
10/21
07:16
10/21/19
07:16
Hot Stocks
Myriad Genetics appoints Mark Pollack as CMO of Myriad Neuroscience »

Myriad Genetics announced…

03/08/13
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  • 06

    Nov

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    Nov

ATGE

Adtalem Global Education

$35.89

-0.37 (-1.02%)

07:16
10/21/19
10/21
07:16
10/21/19
07:16
Hot Stocks
Adtalem Global Education to sell Adtalem Educacional do Brasil to YDUQS »

Adtalem Global Education…

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

    Nov

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  • 14

    Nov

NVR

NVR

$3,890.80

121.94 (3.24%)

07:16
10/21/19
10/21
07:16
10/21/19
07:16
Recommendations
NVR analyst commentary  »

NVR price target raised…

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

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EOG

EOG Resources

$64.47

-2.25 (-3.37%)

07:15
10/21/19
10/21
07:15
10/21/19
07:15
Downgrade
EOG Resources rating change  »

EOG Resources downgraded…

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

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  • 07

    Nov

VZ

Verizon

$61.05

0.64 (1.06%)

07:13
10/21/19
10/21
07:13
10/21/19
07:13
Hot Stocks
Verizon to deploy 5G home internet in Chicago »

Starting October 24,…

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  • 22

    Oct

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    Oct

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    Nov

  • 09

    Dec

PEP

PepsiCo

$136.25

-0.74 (-0.54%)

, KDP

Keurig Dr Pepper

$27.58

-0.01 (-0.04%)

07:12
10/21/19
10/21
07:12
10/21/19
07:12
Recommendations
PepsiCo, Keurig Dr Pepper analyst commentary  »

Morgan Stanley suggests…

PEP

PepsiCo

$136.25

-0.74 (-0.54%)

KDP

Keurig Dr Pepper

$27.58

-0.01 (-0.04%)

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

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  • 07

    Nov

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