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FOX

21st Century Fox

$45.51

0.05 (0.11%)

, FOXA

21st Century Fox

$45.76

-0.05 (-0.11%)

17:24
10/21/18
10/21
17:24
10/21/18
17:24

AMC's Collier named next leader of Fox Network, NY Times reports

Fox (FOXA) will turn to AMC's (AMC) president, Charlie Collier, to take over its broadcast network in several months, The New York Times reported. Reference Link

FOX

21st Century Fox

$45.51

0.05 (0.11%)

FOXA

21st Century Fox

$45.76

-0.05 (-0.11%)

AMC

AMC Entertainment

$19.81

0.18 (0.92%)

  • 13

    Nov

  • 14

    Nov

  • 14

    Nov

FOX 21st Century Fox
$45.51

0.05 (0.11%)

10/15/18
MSCO
10/15/18
NO CHANGE
Target $135
MSCO
Overweight
Disney shares appear 'compelling' at current levels, says Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne believes Disney (DIS) shares appear "compelling" at a current valuation of under 13x "core" FY20 pro forma EPS given the company's opportunity to maximize the potential of the acquired Fox (FOXA) assets and scale a direct-to-consumer business. He attributes investor reluctance to own Disney shares to uncertainty about its ability to simultaneously execute on a large acquisition, launch a global direct-to-consumer business and grow, but Swinburne sees this "complexity discount" as an opportunity, he tells investors. He maintains an Overweight rating on Disney shares with a $135 price target.
10/15/18
MSCO
10/15/18
INITIATION
Target $53
MSCO
Overweight
21st Century Fox resumed with an Overweight at Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne resumed coverage of 21st Century Fox (FOXA) with an Overweight rating and $53 price target, based on his valuation of $12 per share for "New Fox" and roughly $41 per share for "RemainCo." Swinburne said he expects New Fox's cable networks to deliver 7-8% annualized distribution fee growth through FY22, which he notes is higher growth than he projects for the U.S. TV assets it is selling to Disney (DIS). He projects roughly $2.1B of annual free cash flow generated on average for FY20-FY22, ramping up to nearly $2.5B in FY23, which he sees being used for dividends, buybacks and likely more M&A.
09/24/18
BERN
09/24/18
NO CHANGE
BERN
Sky's bidding war outcome 'best possible result' for Disney, says Bernstein
Bernstein analyst Todd Juenger says this weekend's outcome of the bidding war for Sky (SKYAY) was "the best possible result" for Disney (DIS). The analyst argues that he never understood why Disney would want to operate a European DBS business, and never understood how Sky would contribute to Disney's DTC strategy. Rather than pay such a premium like Comcast (CMCSA), Disney can now get "paid" that premium, assuming Fox (FOXA) agrees to sell and deliver the proceeds to Disney in lieu of the shares they had promised, the analyst contends.
08/09/18
08/09/18
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. GOLDMAN CUTS SEAGATE TO SELL: Goldman Sachs analyst Mark Delaney downgraded Seagate Technology (STX) to Sell from Neutral and lowered his price target for the shares to $44 from $50, representing 20% downside from current levels. While Seagate has improved its product offerings in the last few years, hard disk drives remain a cyclical industry, and one "facing secular challenges in many parts of the market," Delaney said. He believes Seagate's fundamentals will peak in the second half of 2018 and decline in 2019. RBC CUTS FOX TO SECTOR PERFORM ON VALUATION: RBC Capital analyst Steven Cahall downgraded 21st Century Fox (FOXA) to Sector Perform from Outperform, but raised his price target to $49 from $45. The analyst noted that the stock is now trading near its M&A price and that he does not see any competitive bids emerging. Cahall adds that while the company is "undervalued", he awaits the separation to re-evaluate his stance. MORGAN STANLEY DOWNGRADES SEMI INDUSTRY: Morgan Stanley analyst Joseph Moore said he has become less constructive on semiconductor stocks through the year and he now believes elevated inventory levels and stretched lead times leave "no margin for error." Given his view that any lead time adjustment or demand slowdown could drive a "meaningful correction," Moore has downgraded his semiconductor industry view to Cautious from In-Line. He favors connector companies, like Amphenol (APH) and TE Connectivity (TEL) over analog/MCU at this point in the cycle, due to lower risk around lead time issues, Moore said. He also has a "strong preference" for high margin and more defensive models, such as Analog Devices (ADI) over lower margin and commodity exposed ones, like Cypress Semiconductor (CY) and ON Semiconductor (ON), he said. Despite his more cautious view on the space, Moore kept Overweight ratings on Nvidia (NVDA), Xilinx (XLNX) and Ambarella (AMBA), citing his view that they should benefit from secular growth in the area of AI, data center, and autonomous. SOUTHERN COMPANY GETS MULTIPLE DOWNGRADES AFTER Q2 REPORT: Barclays analyst Eric Beaumont downgraded Southern Company (SO) to Equal Weight and lowered his price target for the shares to $48 from $51. Credit Suisse analyst Michael Weinstein downgraded Southern Company to Underperform from Neutral and lowered his price target on the shares to $43 from $46. Guggenheim analyst Shahriar Pourreza downgraded Southern Company to Neutral from Buy and lowered his price target on the stock to $47 from $50. Evercore ISI analyst Greg Gordon downgraded Southern Company to Underperform from In Line and lowered his price target on Southern shares to $46 from $46.75.
FOXA 21st Century Fox
$45.76

-0.05 (-0.11%)

10/19/18
LEHM
10/19/18
INITIATION
Target $50
LEHM
Overweight
21st Century Fox reinstated with an Overweight at Barclays
Barclays analyst Kannan Venkateshwar reinstates coverage of 21st Century Fox with an Overweight rating and $50 price target. After shedding assets, the new Fox in some ways will re-emerge stronger and more focused, Venkateshwar tells investors in a research note. The analyst values New Fox at $12 per share.
10/19/18
IMPC
10/19/18
NO CHANGE
Target $32
IMPC
Outperform
MSG Networks price target raised to $32 from $29 at Imperial Capital
Imperial Capital analyst David Miller raised his price target for MSG Networks (MSGN) to $32 saying the market is "finally paying attention" to the company's de-leveraging campaign. The shares "could breakout even further" due to the potential of a new "valuation mark" set by the sale of the 21st Century Fox (FOXA) Regional Sports Networks, and specifically a sale of the YES Network to Yankee Global Enterprises, Miller tells investors in a research note. The analyst keeps an Outperform rating on MSG Networks.
AMC AMC Entertainment
$19.81

0.18 (0.92%)

09/17/18
WEDB
09/17/18
NO CHANGE
Target $25
WEDB
Outperform
AMC could see multiple expansion with more consistent performance, says Wedbush
Wedbush analyst Michael Pachter reiterated an Outperform rating and $25 price target on AMC Entertainment, telling investors in a research note that another few quarters of consistent performance should result in multiple expansion so long as AMC remains committed to meaningfully paying down debt. Pachter expects AMC to trade at the high end of its historical 7-8.5x EV/EBITDA multiple range should it demonstrate consistent earnings power.
09/17/18
IMPC
09/17/18
NO CHANGE
Target $23
IMPC
Outperform
AMC buying shares from Wanda a 'major positive,' says Imperial Capital
Imperial Capital analyst David Miller views AMC Entertainment buying back 24M shares from Wanda as a "major positive." The overhang on the stock created by the uncertainty surrounding what Wanda might do has been an issue for over one year now, and so any transaction which decreases that uncertainty may help AMC investors "sleep a little easier," Miller tells investors in a research note. The analyst believes that while the risk is still there for Wanda to :easily dump more shares in the open market," this is unlikely to happen given that private equity firm Silver Lake, the lead sponsor on the transaction, will retain right of first refusal for two years on future transfers of AMC shares. This in effect issues a "rhetorical vote of confidence to the current management team," Miller says. He keeps an Outperform rating on AMC with a $23 price target.
09/14/18
09/14/18
DOWNGRADE
Target $21

Neutral
MKM downgrades AMC Entertainment to Neutral citing deal dilution, valuation
As previously reported, MKM Partners analyst Eric Handler downgraded AMC Entertainment to Neutral from Buy, stating that he believes the increase in the company's already above average net leverage and eventual 6% share dilution from Silver Lake's $600M strategic investment is a cause for concern. It is also hard to argue for the stock's multiple to rise when free cash flow, after dividend payments, is negative or only slightly positive, added Handler. He maintains a $21 fair value estimate on the stock.
09/14/18
MKMP
09/14/18
DOWNGRADE
MKMP
Neutral
AMC Entertainment downgraded to Neutral from Buy at MKM Partners

TODAY'S FREE FLY STORIES

YRD

Yirendai

$15.47

-1.75 (-10.16%)

17:01
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Earnings
Yirendai reports Q3 adjusted income per ADS 87c, consensus 52c »

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  • 12

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LTM

Latam Airlines

$8.96

-0.39 (-4.17%)

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Latam Airlines reports October passenger traffic up 1.5% »

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  • 21

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ETON

Eton Pharmaceuticals

$0.00

(0.00%)

16:53
11/12/18
11/12
16:53
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16:53
Syndicate
Eton Pharmaceuticals 3.6M share IPO priced at $6.00 »

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ENR

Energizer

$60.18

-1.235 (-2.01%)

16:49
11/12/18
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16:49
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Hot Stocks
Energizer names Patrick Moore chairman of the board »

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  • 15

    Nov

ACIU

AC Immune

$8.74

0.01 (0.11%)

16:47
11/12/18
11/12
16:47
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Initiation
AC Immune initiated  »

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KRNT

Kornit Digital

$19.15

-0.88 (-4.39%)

16:47
11/12/18
11/12
16:47
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16:47
Earnings
Kornit Digital reports Q3 adjusted EPS 13c »

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  • 12

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ZGNX

Zogenix

$40.82

0.05 (0.12%)

16:46
11/12/18
11/12
16:46
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16:46
Initiation
Zogenix initiated  »

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  • 15

    Nov

ADMS

Adamas Pharmaceuticals

$11.45

-0.455 (-3.82%)

16:45
11/12/18
11/12
16:45
11/12/18
16:45
Initiation
Adamas Pharmaceuticals initiated  »

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AGN

Allergan

$163.82

-1.77 (-1.07%)

16:45
11/12/18
11/12
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16:45
Initiation
Allergan initiated  »

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  • 12

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SAGE

Sage Therapeutics

$121.50

-9.46 (-7.22%)

16:45
11/12/18
11/12
16:45
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Initiation
Sage Therapeutics initiated  »

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  • 14

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  • 19

    Dec

NBIX

Neurocrine

$103.03

-2.18 (-2.07%)

16:44
11/12/18
11/12
16:44
11/12/18
16:44
Initiation
Neurocrine initiated  »

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  • 14

    Nov

HLUYY

Lundbeck

$0.00

(0.00%)

16:44
11/12/18
11/12
16:44
11/12/18
16:44
Initiation
Lundbeck initiated  »

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GWPH

GW Pharmaceuticals

$134.48

-3.3 (-2.40%)

16:43
11/12/18
11/12
16:43
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16:43
Initiation
GW Pharmaceuticals initiated  »

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  • 27

    Nov

BHVN

Biohaven Pharmaceutical

$36.42

-2.47 (-6.35%)

16:42
11/12/18
11/12
16:42
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16:42
Initiation
Biohaven Pharmaceutical initiated  »

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ACAD

Acadia

$18.86

-0.01 (-0.05%)

16:42
11/12/18
11/12
16:42
11/12/18
16:42
Initiation
Acadia initiated  »

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  • 12

    Nov

ALKS

Alkermes

$34.70

-2.98 (-7.91%)

16:41
11/12/18
11/12
16:41
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16:41
Initiation
Alkermes initiated  »

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GATX

GATX

$76.43

-2.54 (-3.22%)

16:37
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GATX acquires up to 3,100 railcars for $229M »

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NVGS

Navigator Holdings

$12.03

-0.13 (-1.07%)

16:35
11/12/18
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Earnings
Navigator Holdings reports Q3 EPS 1c, consensus (2c) »

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  • 13

    Nov

GRA

W.R. Grace

$63.83

-0.705 (-1.09%)

16:35
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W.R. Grace to increase price for silica-based, molecular sieve products by 7% »

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EQH

AXA Equitable

$21.09

-0.355 (-1.66%)

16:34
11/12/18
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AXA Equitable reports Q3 annualized premiums up 2% »

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  • 13

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EQH

AXA Equitable

$21.09

-0.355 (-1.66%)

16:33
11/12/18
11/12
16:33
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16:33
Hot Stocks
Breaking Hot Stocks news story on AXA Equitable »

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  • 13

    Nov

EQH

AXA Equitable

$21.09

-0.355 (-1.66%)

16:32
11/12/18
11/12
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16:32
Earnings
AXA Equitable reports Q3 adjusted EPS $1.23, consensus 91c »

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  • 13

    Nov

HAL

Halliburton

$34.17

-0.81 (-2.32%)

16:31
11/12/18
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Hot Stocks
Halliburton names Lance Loeffler as CFO, Chris Weber to leave company »

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ELVT

Elevate Credit

$4.11

-0.08 (-1.91%)

16:31
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Hot Stocks
Elevate Credit appoints David Peterson Chief Credit Officer »

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ROP

Roper Technologies

$289.16

-7.67 (-2.58%)

16:31
11/12/18
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16:31
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16:31
Hot Stocks
Roper Technologies raises quarterly dividend 12% to 46.25c per share »

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