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SJW

SJW Corp.

$57.86

-0.29 (-0.50%)

, CTWS

Connecticut Water

$69.05

0.14 (0.20%)

07:09
10/15/18
10/15
07:09
10/15/18
07:09

Connecticut Water issues letter to shareholders on SJW Corp. transaction

Connecticut Water (CTWS) sent a letter to shareholders in connection with the previously announced transaction with SJW Group (SJW). The special meeting of Connecticut Water shareholders to vote on the transaction will be held on November 16. The Connecticut Water board recommends that shareholders vote "for" the proposal to approve the SJW Group merger agreement as well as all other proposals related to the SJW Group transaction. Not voting has the same effect as a vote against the transaction. Highlights from the letter include: "by voting "FOR" the SJW Group transaction on the GREEN proxy card, shareholders are voting to receive significant, certain, premium value of $70 per share in cash (...) The value that Connecticut Water shareholders will receive represents a 33% premium to Connecticut Water's unaffected closing stock price on March 14 (...) Prior to announcing the original agreement with SJW Group in March 2018, Connecticut Water's stock had never closed above $63.55 per share (...) the SJW Group transaction provides significant benefits for the Company's employees, customers and communities that Connecticut Water believes are fundamental to being a successful utility company. (...)"

SJW

SJW Corp.

$57.86

-0.29 (-0.50%)

CTWS

Connecticut Water

$69.05

0.14 (0.20%)

  • 25

    Oct

SJW SJW Corp.
$57.86

-0.29 (-0.50%)

09/17/18
EVER
09/17/18
INITIATION
Target $59
EVER
In Line
SJW Corp. initiated with an In Line at Evercore ISI
Evercore ISI analyst Greg Gordon initiated SJW Corp. (SJW) with an In Line and $59 price target citing the pending merger with Connecticut Water (CTWS).
09/10/18
09/10/18
UPGRADE
Target $63

Buy
SJW Corp. upgraded to Buy at Janney Montgomery Scott
As previously reported, Janney Montgomery Scott analyst Michael Gaugler upgraded SJW Corp. (SJW) to Buy from Neutral, citing valuation with the shares having fallen 16% since the withdrawal of California Water Service's (CWT) bid. While acknowledging that a future equity offering could pressure shares if SJW wins its bid for Connecticut Water (CTWS), Gaugler said he thinks the current valuation already anticipates and reflects an expectation for that eventuality. He sees SJW shares as attractively valued at their current levels, whether or not the company can consummate the Connecticut Water deal. The analyst keeps a $63 fair value estimate on SJW shares.
09/10/18
JANY
09/10/18
UPGRADE
JANY
Buy
SJW Corp. upgraded to Buy from Neutral at Janney Montgomery Scott
04/26/18
JANY
04/26/18
DOWNGRADE
JANY
Neutral
SJW Corp. downgraded to Neutral from Buy at Janney Capital
Janney Capital cited SJW Group (SJW) valuation after California Water Service Group (CWT) confirmed that it proposed to acquire SJW for $68.25 per share. Subsequently, SJW rejected Cal Water's offer, having determined that it was not a superior proposal as defined in SJW's merger agreement with Connecticut Water Service (CTWS).
CTWS Connecticut Water
$69.05

0.14 (0.20%)

09/17/18
EVER
09/17/18
INITIATION
Target $67
EVER
In Line
Connecticut Water initiated with an In Line at Evercore ISI
Evercore ISI analyst Greg Gordon initiated Connecticut Water with an In Line and $67 price target.
08/29/18
08/29/18
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. Irsa Propiedades (IRCP) downgraded to Neutral from Overweight at JPMorgan with analyst Marcelo Motta citing the company's weaker outlook. 2. Fang Holdings (SFUN) downgraded to Neutral from Outperform at Credit Suisse. 3. Connecticut Water (CTWS) downgraded to Sell from Neutral at UBS with analyst Daniel Ford saying he sees the stock's risk/reward as skewed to the downside. 4. Bank of Nova Scotia (BNS) downgraded to Hold from Buy at Canaccord. 5. Capital Product (CPLP) and Realty Income (O) were downgraded to Neutral from Buy at Janney Montgomery Scott. 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

FB

Facebook

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On The Fly
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FB

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SNAP

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IRM

Iron Mountain

$32.64

-0.135 (-0.41%)

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AMZN

Amazon.com

$1,776.00

7.3 (0.41%)

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NBEV

New Age Beverages

$2.73

(0.00%)

12:32
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12:30
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General news
FX Action: USD-JPY »

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NWL

Newell Brands

$19.31

0.14 (0.73%)

12:25
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Options
Newell Brands call volume above normal and directionally bullish »

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GM

General Motors

$37.04

0.77 (2.12%)

12:18
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  • 29

    Oct

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
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12:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
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10/16
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Technical Analysis
NYSE market internals summary »

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PLAN

Anaplan

$44.40

-3.33 (-6.98%)

12:15
10/16/19
10/16
12:15
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Options
Anaplan put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 16

    Oct

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MCK

McKesson

$146.86

8.69 (6.29%)

, ABC

AmerisourceBergen

$87.62

4.44 (5.34%)

12:11
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On The Fly
Fly Intel: Wall Street's top stories at midday »

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MCK

McKesson

$146.86

8.69 (6.29%)

ABC

AmerisourceBergen

$87.62

4.44 (5.34%)

CAH

Cardinal Health

$49.76

1.83 (3.82%)

JNJ

Johnson & Johnson

$136.44

3.6 (2.71%)

TEVA

Teva

$7.33

0.37 (5.32%)

GM

General Motors

$37.14

0.87 (2.40%)

UAL

United Airlines

$90.00

2.1 (2.39%)

BA

Boeing

$376.35

5.36 (1.44%)

BAC

Bank of America

$30.38

0.64 (2.15%)

MGM

MGM Resorts

$27.47

-0.4 (-1.44%)

BX

Blackstone

$46.86

-0.24 (-0.51%)

ACHN

Achillion

$6.25

2.595 (71.00%)

ALXN

Alexion

$102.60

-2.245 (-2.14%)

SFIX

Stitch Fix

$22.00

1.17 (5.62%)

WDAY

Workday

$158.51

-22.33 (-12.35%)

SNBR

Sleep Number

$45.49

-1.2 (-2.57%)

03/08/13
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  • 16

    Oct

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    Oct

  • 16

    Oct

  • 16

    Oct

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    Oct

  • 19

    Oct

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    Oct

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    Oct

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    Oct

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    Oct

  • 23

    Oct

  • 29

    Oct

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    Oct

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    Oct

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    Nov

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    Nov

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    Nov

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    Nov

  • 12

    Nov

  • 12

    Nov

WB

Weibo

$52.17

2.85 (5.78%)

12:05
10/16/19
10/16
12:05
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Options
Weibo call volume above normal and directionally bullish »

Bullish option flow…

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APHA

Aphria

$5.00

-0.41 (-7.58%)

12:00
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Aphria falls -8.1% »

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  • 12

    Nov

NOW

ServiceNow

$251.40

-23.2 (-8.45%)

12:00
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  • 23

    Oct

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AVD

American Vanguard

$13.39

-1.87 (-12.25%)

12:00
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Hot Stocks
American Vanguard falls -12.6% »

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  • 05

    Nov

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HOV

Hovnanian

$28.26

2.2 (8.44%)

12:00
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Hovnanian rises 8.2% »

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OMI

Owens & Minor

$6.98

0.55 (8.55%)

12:00
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Owens & Minor rises 8.2% »

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FIT

Fitbit

$3.75

0.305 (8.85%)

12:00
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Fitbit rises 8.7% »

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GM

General Motors

$37.17

0.9 (2.48%)

11:57
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UAW sends proposed tentative deal to UAW GM members to ratify »

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  • 29

    Oct

PDCO

Patterson Companies

$17.42

0.09 (0.52%)

, HSIC

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$62.68

0.83 (1.34%)

11:55
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Hot Stocks
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PDCO

Patterson Companies

$17.42

0.09 (0.52%)

HSIC

Henry Schein

$62.68

0.83 (1.34%)

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  • 08

    Nov

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    Dec

HSIC

Henry Schein

$62.41

0.56 (0.91%)

11:50
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Hot Stocks
Judge dismisses FTC complaint against Henry Schein »

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  • 08

    Nov

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    Dec

XLF

Financial Select Sector

$28.06

-0.02 (-0.07%)

11:50
10/16/19
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Options
Upside call buyer in Financial Sector ETF tied to hedge »

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IRBT

iRobot

$58.37

0.58 (1.00%)

11:48
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SharkNinja says 'will aggressively defend' against iRobot patent suit »

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  • 23

    Oct

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    Nov

RNET

RigNet

11:46
10/16/19
10/16
11:46
10/16/19
11:46
Initiation
RigNet initiated  »

RigNet initiated with a…

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ATNI

ATN International

11:46
10/16/19
10/16
11:46
10/16/19
11:46
Initiation
ATN International initiated  »

ATN International…

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  • 24

    Oct

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