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ONEXF

Onex

$0.00

(0.00%)

, CG

Carlyle Group

$19.46

0.61 (3.24%)

16:27
10/30/18
10/30
16:27
10/30/18
16:27

Apollo in advanced discussions to buy Arconic, Reuters reports

Apollo Global (APO) is in advanced talks to acquire Arconic (ARNC) for over $11B, Reuters reports, citing people familiar with the matter. The private equity firm could reach a deal with the aluminum products maker as early as next week after a competing buyout consortium including Blackstone (BX), Carlyle (CG), Onex (ONEXF), and Canada Pension Plan Investment Board suggested it may need three more weeks to complete due diligence on the company, the report says. Apollo's offer currently stands at roughly $23 per share, though negotiations are ongoing, the report notes. Reference Link

ONEXF

Onex

$0.00

(0.00%)

CG

Carlyle Group

$19.46

0.61 (3.24%)

BX

Blackstone

$31.75

1.345 (4.42%)

ARNC

Arconic

$19.69

0.47 (2.45%)

APO

Apollo Global

$29.93

0.43 (1.46%)

  • 30

    Oct

  • 31

    Oct

  • 05

    Nov

ONEXF Onex
$0.00

(0.00%)

01/15/18
BMOC
01/15/18
INITIATION
BMOC
Outperform
Onex initiated with an Outperform at BMO Capital
BMO Capital started Onex with an Outperform rating and C$105 price target.
CG Carlyle Group
$19.46

0.61 (3.24%)

08/14/18
MSCO
08/14/18
NO CHANGE
Target $31
MSCO
Overweight
Carlyle's fee-related earnings ramp on track, says Morgan Stanley
Morgan Stanley analyst Michael Cyprys reiterated an Overweight rating on Carlyle Group and raised his price target slightly to $31, telling investors that fee-related earnings are on track to grow by over 50% over the next two quarters after doubling in the past two quarters. The analyst sees significant value in accrued carry receivable balance that should crystallize at a faster pace in 2019, driving an increase in cash performance fees.
03/27/18
SBSH
03/27/18
NO CHANGE
SBSH
Citi says AkzoNobel free to think more strategically about M&A after divestiture
After AkzoNobel (AKZOY) announced the sale of its Specialty Chemicals business to Carlyle Group (CG) and GIC, Citi analyst P.J. Juvekar said the divestiture frees up the company to think more strategically about M&A. Akzo could go after Axalta (AXTA) again, but unless Akzo is prepared to pay a significant premium a deal is unlikely, said Juvekar. He thinks a price in the mid to high $30 range would be needed to get Axalta to the negotiating table. Akzo has thus far resisted a sale to PPG (PPG), but Juvekar thinks PPG would be interested if a deal were to be a friendly one.
03/12/18
03/12/18
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. Time Warner (TWX) upgraded to Buy from Neutral at UBS with analyst John Hodulik saying while he expects the takeover by AT&T (T) to receive regulatory approval, he believes the current environment would make Time Warner's assets "highly attractive" to other media companies and Internet-based competitors were the deal to be blocked. 2. Carlyle Group (CG) and Apollo Global (APO) were upgraded to Buy from Neutral at Citi. 3. Merck (MRK) upgraded to Outperform from Market Perform at Leerink with analyst Seamus Fernandez saying Keytruda will continue to dominate the first-line non-small cell lung cancer market. 4. SAP (SAP) upgraded to Outperform from In Line at Evercore ISI with analyst Stewart Materne III saying that he believes the risk/reward is more attractive at current levels following the stock's 6% pullback. 5. Aratana Therapeutics (PETX) upgraded to Buy on valuation at CL King with the firm citing favorable risk/reward. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/17/18
ADAM
09/17/18
NO CHANGE
Target $85
ADAM
Buy
Esterline being taken private makes most sense, says Canaccord
Canaccord analyst Ken Herbert noted reports Esterline (ESL) is exploring a sale and be believes it is part of an industry-wide consolidation. The analyst thinks an acquisition by TransDigm (TDG) would be a long shot, but he believes they could be interested in any opportunities as part of a restructuring. He believes an acquisition by the Carlyle Group (CG) or some other private equity firm makes the most sense. Herbert reiterated his Buy rating and $85 price target on Esterline shares.
BX Blackstone
$31.75

1.345 (4.42%)

09/25/18
ARGS
09/25/18
NO CHANGE
Target $46
ARGS
Buy
Blackstone price target raised to $46 from $39 at Argus
Argus analyst Stephen Biggar raised his price target on Blackstone to $46 and kept his Buy rating after its Investor Day presentation on Friday, citing the company's outlined plans to grow its assets under management to $1T from $439B currently. The analyst states that Blackstone is seeing "sees considerable growth in real estate, private equity, infrastructure, tactical opportunities and credit assets", adding that while the $1T target is "aggressive", it is also achievable, requiring "continuing cooperative economic environment and fundraising efforts". Biggar also anticipates Blackstone's "fee-related earnings component to grow significantly over the next two years" as its flagship funds reach key milestones, helping reduce earnings volatility and yielding "more consistent" dividend payouts.
09/24/18
MSCO
09/24/18
NO CHANGE
Target $48
MSCO
Overweight
Blackstone price target raised to $48 from $42 at Morgan Stanley
Morgan Stanley analyst Michael Cyprys said he came away from Blackstone's investor day more positive on the company's superior AUM and fee growth and ability to innovate. Blackstone also said a C-Corp conversion is under active consideration, which is a more positive stance than in it has expressed in the past, Cyprys tells investors. Based on expectations for strong growth in AUM, management fees and performance fee, along with the rising prospects for C-Corp conversion, Cyprys raised his price target on Blackstone shares to $48 from $42 and keeps an Overweight rating on the stock.
09/24/18
SBSH
09/24/18
NO CHANGE
Target $47.5
SBSH
Buy
Blackstone price target raised to $47.50 from $43 at Citi
Citi analyst William Katz raised his price target for Blackstone to $47.50 following last week's investor day. The analyst left constructive on the Alternatives sector and impressed by the "multitude of earnings drivers" at Blackstone. He's encouraged by the company's "growing competitive moat and longer-term opportunities" and keeps a Buy rating on the shares.
09/24/18
JMPS
09/24/18
NO CHANGE
Target $43
JMPS
Outperform
Blackstone price target raised to $43 after investor day at JMP Securities
JMP Securities analyst Devin Ryan raised his price target on Blackstone shares to $43 from $39 following the company's investor day, from which he said the primary takeaway was the company's detailed roadmap for growth to $1T+ of AUM over the next eight years from $439B of total assets today. Ryan, who said Blackstone communicated a "clear line of sight" into $2 of fee-related earnings over the longer-term, keeps an Outperform rating on Blackstone shares.
ARNC Arconic
$19.69

0.47 (2.45%)

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.
09/17/18
LBOW
09/17/18
DOWNGRADE
LBOW
Neutral
Arconic downgraded to Neutral from Buy at Longbow
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.
10/10/18
MSCO
10/10/18
NO CHANGE
Target $22
MSCO
Equal Weight
Morgan Stanley says Arconic could rise to $28, or fall to $17, pending review
With Arconic expected to host an investor event in November where management is expected to share the results of their strategic review, Morgan Stanley analyst Rajeev Lalwani lays out three potential scenarios and the associated move in the stock that he sees in each theoretical case. In Scenario 1, which he views as most probable, Arconic will announce significant asset sales as it continues its shift toward becoming a pure-play A&D company. In such a scenario, Lalwani sees the stock trading at about $22 per share. In Scenario 2, the company announces a full buyout and he sees the stock moving up to about $28 per share. Lalwani puts the odds of this scenario at 30%. In Scenario 3, the company announces limited strategic activity beyond those noted to-date and in such a case Lalwani sees the stock falling to $17 per share to re-test its early 2018 lows. Ahead of the potential catalyst of the investor day and end of the review, Lalwani keeps an Equal Weight rating and $22 price target on Arconic.
APO Apollo Global
$29.93

0.43 (1.46%)

08/28/18
BUCK
08/28/18
NO CHANGE
BUCK
Buckingham sees RenaissanceRe, Axis Capital trading up on Aspen deal news
Buckingham analyst Amit Kumar called the multiple Apollo Global (APO) agreed to pay to acquire Aspen Insurance (AHL) "a tad underwhelming compared to other recent deals," which he attributes to Aspen's hand being forced by the fast approaching peak hurricane season and investor skepticism on its standalone future. Given the drawn out process, he sees a lower likelihood of a competing bidder emerging, Kumar tells investors, adding that he expects both RenaissanceRe (RNR) and Axis Capital (AXS) to trade up on the deal news.
08/14/18
MSCO
08/14/18
NO CHANGE
Target $42
MSCO
Overweight
Apollo Global's Q3 'setting up well,' says Morgan Stanley
Morgan Stanley analyst Michael Cyprys maintained an Overweight rating and $42 price target on Apollo Global, telling investors in a research note that Q3 is "setting up well" with key fund and balance sheet investments appreciating following a softer Q2 print. He sees Apollo's credit business scaling and new initiatives taking hold that could drive significant upside to fee-related earnings.
07/24/18
BMOC
07/24/18
NO CHANGE
Target $62
BMOC
Market Perform
LifePoint price target raised to $62 from $51 at BMO Capital
BMO Capital analyst Matt Borsch raised his price target on LifePoint (LPNT) to $62 and kept his Market Perform rating after the proposed transaction for the company to be taken private by the Apollo Global (APO) affiliate RCCH HealthCare Partners at $65 per share. The analyst says his price target reflects the acquisition price blended with some uncertainty regarding the deal, even as he views the terms of the offer as attractive to LifePoint shareholders against the"backdrop of reimbursement and volume pressures that challenge acute care hospitals".
10/01/18
GSCO
10/01/18
UPGRADE
Target $45
GSCO
Conviction Buy
Apollo Global upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman Sachs analyst Alexander Blostein added Apollo Global Management to his firm's Conviction List while keeping a Buy rating on the shares. Apollo at current valuation levels is now the only Alternative Manager to which the market still ascribes a negative value to future incentive earnings, Blostein tells investors in a research note. The analyst believes Apollo's investment performance is strengthening and its realization outlook is improving into 2019 and 2020. He has a $45 price target for the shares.

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ALSN

Allison Transmission

$43.06

-0.96 (-2.18%)

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$NSD

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NYSE Market Internals

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FCAU

Fiat Chrysler

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-0.24 (-1.88%)

15:15
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Fiat Chrysler put volume heavy and directionally bearish »

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SPX

S&P 500

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SPX

S&P 500

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SPY

SPDR S&P 500 ETF Trust

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-6.58 (-2.25%)

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DDOG

Datadog

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15:11
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Syndicate
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HIIQ

Health Insurance Innovations

$18.17

-0.87 (-4.57%)

15:05
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INCY

Incyte

$82.37

-3.2 (-3.74%)

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Eli Lilly

$110.50

-1.13 (-1.01%)

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Eli Lilly, Incyte announce baricitinib meets primary endpoint in Phase 3 trial »

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INCY

Incyte

$82.37

-3.2 (-3.74%)

LLY

Eli Lilly

$110.50

-1.13 (-1.01%)

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EPD

Enterprise Products

$28.35

-0.605 (-2.09%)

14:55
08/23/19
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14:55
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14:55
Options
Enterprise Products put volume heavy and directionally bearish »

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LGF.A

Lionsgate

$10.52

-0.28 (-2.59%)

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Lionsgate

$10.01

-0.205 (-2.01%)

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LGF.A

Lionsgate

$10.52

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LGF.B

Lionsgate

$10.01

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SNE

Sony

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CMCSA

Comcast

$42.75

-1.01 (-2.31%)

CMCSK

Comcast

$0.00

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T

AT&T

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-0.44 (-1.24%)

CBS

CBS

$42.02

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DIS

Disney

$133.09

-2.98 (-2.19%)

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Viacom

$27.31

-0.28 (-1.01%)

VIAB

Viacom

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QSR

Restaurant Brands

$76.37

0.94 (1.25%)

14:45
08/23/19
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Options
Restaurant Brands call volume above normal and directionally bullish »

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14:45
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Fed funds futures surge on the downdraft in stocks »

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OSW

OneSpaWorld

$15.84

-0.22 (-1.37%)

14:41
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Conference/Events
OneSpaWorld management to meet with William Blair »

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OPRX

OptimizeRx

$15.16

-0.39 (-2.51%)

14:38
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OptimizeRx management to meet with William Blair »

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APPN

Appian

$60.63

0.29 (0.48%)

14:37
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Conference/Events
Appian management to meet with William Blair »

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  • 26

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ET

Energy Transfer LP

$13.35

-0.31 (-2.27%)

14:35
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14:35
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14:35
Options
Energy Transfer put volume heavy and directionally bearish »

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NKTR

Nektar

$17.04

0.05 (0.29%)

14:25
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14:25
Options
Nektar call volume above normal and directionally bullish »

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  • 29

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
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NASDAQ market internals summary »

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SBGI

Sinclair Broadcast

$43.19

-1.24 (-2.79%)

, DIS

Disney

$133.27

-2.8 (-2.06%)

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Sinclair Broadcast (SBGI)…

SBGI

Sinclair Broadcast

$43.19

-1.24 (-2.79%)

DIS

Disney

$133.27

-2.8 (-2.06%)

T

AT&T

$34.97

-0.425 (-1.20%)

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    Oct

$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
08/23/19
08/23
14:16
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14:16
Technical Analysis
NYSE market internals summary »

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FANG

Diamondback Energy

$95.83

-3.315 (-3.34%)

14:15
08/23/19
08/23
14:15
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14:15
Options
Diamondback Energy put volume heavy and directionally bearish »

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  • 27

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14:10
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General news
Action Economics Survey results: »

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