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PCG

PG&E

$33.59

-6.3 (-15.79%)

12:00
11/12/18
11/12
12:00
11/12/18
12:00

PG&E falls -15.8%

PG&E is down -15.8%, or -$6.30 to $33.62.

  • 12

    Nov

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    Nov

PCG PG&E
$33.59

-6.3 (-15.79%)

09/06/18
09/06/18
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. ANALYSTS WEIGH IN ON MICRON: Despite recent softness in DRAM spot pricing, the more appropriate metric for Micron Technology (MU) investors to focus on is gross margin, Deutsche Bank analyst Sidney Ho said. On gross margin, the analyst sees Micron benefiting from "solid cost improvement through technology transition" in fiscal 2019. Further, he believes the DRAM market has become more diverse, which should help offset temporary weakness in any given end market. As the company continues to execute on its technology roadmap and delivers solid operating results, Ho expects Micron's stock valuation to re-rate. He kept a Buy rating and $80 price target on Micron. However, Baird analyst Tristan Gerra said Micron is no longer a top large-cap idea, citing its valuation and the likelihood gross margins may be nearing their peak. He also noted DRAM pricing is likely peaking and NAND is in significant oversupply. Gerra maintained an Outperform rating but lowered his price target to $75 from $100 on Micron shares. ARGUS UPGRADES PG&E TO BUY: Argus analyst Jacob Kilstein upgraded PG&E (PCG) to Buy from Hold with a price target of $54, saying the company's recent California legislative victory will reduce its liability for last year's wildfire as its earnings outlook improves. Kilstein further anticipates PG&E to announce a timeline regarding its dividend reinstatement after being forced to suspend its quarterly payout on concerns about its potential wildfire damage responsibility estimated as high as $12B. NORTHLAND DOWNGRADES TILRAY TO MARKET PERFORM: Northland analyst Mike Grondahl downgraded Tilray (TLRY) to Market Perform from Outperform. While he continues to see the company playing a "huge role" in the recreational-use cannabis market in Canada and other countries and the medical market in Europe, he also believes the risk/reward is far more balanced following the recent "massive" move in the stock. JPMORGAN CUTS FRANKLIN RESOURCES TO UNDERWEIGHT: JPMorgan analyst Kenneth Worthington downgraded Franklin Resources (BEN) to Underweight from Neutral and lowered his price target for the shares to $29 from $32. The analyst believes the more recent weakness in emerging markets, and in particular in emerging market debt, will weigh on both Franklin's organic growth and earnings potential. He thinks challenges in emerging markets put additional pressure on "an already challenging growth story characterized by weak fund performance, significant outflows, and declining margins." Worthington continues to have a negative view on the asset management sector.
10/10/18
MSCO
10/10/18
NO CHANGE
Target $66
MSCO
Overweight
PG&E shareholders unlikely to be liable for Cascade damages, says Morgan Stanley
After Cal Fire issued a press release yesterday detailing its findings that the Cascade fire was started by sagging PG&E power lines, but noted that it found no evidence of any violations by the utility, Morgan Stanley analyst Stephen Byrd said he believes the estimated $400M-$450M of associated costs should be recoverable from utility customers and should not impact shareholders. Noting that the incident report filed by PG&E for the Cascade fire shares similarities with the Tubbs fire incident report, Byrd added that he views the Cal Fire report having a potentially positive read-across to the Tubbs fire, which was the largest in the 2017 NorCal fires and the last investigation remaining. Byrd keeps an Overweight rating and $66 price target on PG&E shares.
11/09/18
SBSH
11/09/18
NO CHANGE
Target $48
SBSH
Neutral
PG&E exposure to California fires uncertain, says Citi
Citi analyst Praful Mehta kept his Neutral rating and $48 price target on PG&E, saying today's 16% decline in the stock price may be an "over-reaction" but also cautions that investors are dealing with "Risk of the Unknown". The analyst notes that the "structures damaged" is his best gauge for the extent of dollar damage, stating that the current reports suggest that the damages may be higher than the $15B estimated under the 2017 wildfires. The analyst adds that the SB-901 legislation doesn't cover the 2018 fires as its cost cap is only applicable for the 2017 fire, putting PG&E into legislative uncertainty on whether it would be expanded to cover the 2018 fires as well.
11/12/18
MSCO
11/12/18
NO CHANGE
MSCO
Morgan Stanley estimates $2B-$4B in insured losses from Camp Fire
Morgan Stanley analysts Kai Pan and Stephen Byrd estimate $2B-$4B in insured losses from the Camp Fire, adding that total economic losses will be higher but insurance penetration is very high as fire losses are covered under standard homeowners polices. Given the incident report issued by PG&E (PCG) and other reports, the focus currently appears to be on PG&E equipment, the analysts added. In a bearish case, damage from the Camp Fire spreads and PG&E shareholders are fully liable for all damages, fully liable for 2017 wildfires, and there is a permanent 30% discount to peers, in which case Pan and Byrd believe PG&E stock would be valued at $37 per share. In a "moderate" case, they assign a 75% probability of full shareholder liability for Camp Fire damages, damages grow by 25% from the current level, and the stock trades at a permanent 15% discount to peers, in which case they believe PG&E would be valued at $59 per share. Pan and Byrd believe PG&E shares now reflect $17B for 2017-18 fires plus a permanent 25% discount to peers. In terms of Edison International (EIX), the analyst sees $5B for 2017-18 fires plus a permanent 20% discount to peers being reflected in the stock. In the bearish case, they see Edison being valued at $57 per share and in the moderate case they see it valued at $70 per share.

TODAY'S FREE FLY STORIES

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Conference/Events
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AUTL

Autolus Therapeutics

$26.67

0.09 (0.34%)

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MDSO

Medidata

$90.30

11.44 (14.51%)

, DASTY

Dassault Systemes

$0.00

(0.00%)

07:52
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07:52
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Medidata, Dassault Systemes rating change  »

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MDSO

Medidata

$90.30

11.44 (14.51%)

DASTY

Dassault Systemes

$0.00

(0.00%)

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AZRX

AzurRx BioPharma

$2.60

0.185 (7.68%)

07:50
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AzurRx BioPharma surpasses 50% enrollment for Phase 2 OPTION study »

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HAL

Halliburton

$31.09

-0.03 (-0.10%)

07:50
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04/23
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07:50
Recommendations
Halliburton analyst commentary at SunTrust »

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JBLU

JetBlue

$16.84

-0.13 (-0.77%)

07:50
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JetBlue sees Q2 effective tax rate of approx. 25% »

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ACHC

Acadia

$29.66

0.16 (0.54%)

07:49
04/23/19
04/23
07:49
04/23/19
07:49
Recommendations
Acadia analyst commentary  »

Citi opens 'Positive…

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  • 01

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PAG

Penske Automotive

$44.64

-1.305 (-2.84%)

07:48
04/23/19
04/23
07:48
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07:48
Conference/Events
Penske Automotive management to meet with Stephens »

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JBLU

JetBlue

$16.84

-0.13 (-0.77%)

07:47
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Hot Stocks
JetBlue says 'on track' to hit 2018-2020 CASM CAGR goal of 0-1% growth »

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JEC

Jacobs Engineering

$78.69

1.755 (2.28%)

07:47
04/23/19
04/23
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07:47
Hot Stocks
Jacobs Engineering extends contract with Watercare »

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  • 07

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PRIM

Primoris

$22.00

0.14 (0.64%)

07:47
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Primoris announces natural gas distribution awards with value over $25M »

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  • 03

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PACW

PacWest Bancorp

$38.85

-0.39 (-0.99%)

07:47
04/23/19
04/23
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07:47
Conference/Events
PacWest Bancorp management to meet with JMP Securities »

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  • 30

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ISRG

Intuitive Surgical

$490.70

-37.34 (-7.07%)

07:46
04/23/19
04/23
07:46
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07:46
Recommendations
Intuitive Surgical analyst commentary at Citi »

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  • 25

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NVR

NVR

$3,260.82

173.72 (5.63%)

07:45
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07:45
Recommendations
NVR analyst commentary  »

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  • 02

    May

LMT

Lockheed Martin

$315.24

0.94 (0.30%)

07:45
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Breaking Hot Stocks news story on Lockheed Martin »

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  • 23

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CVE

Cenovus Energy

$10.43

0.345 (3.42%)

07:45
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07:45
Recommendations
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  • 24

    Apr

NUE

Nucor

$57.00

-0.495 (-0.86%)

07:43
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Nucor CEO says 'well-positioned for continued growth and success' »

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  • 23

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ZTO

ZTO Express

$19.30

-0.3 (-1.53%)

07:43
04/23/19
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07:43
Upgrade
ZTO Express rating change  »

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  • 15

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DLR

Digital Realty

$119.37

-1.06 (-0.88%)

07:43
04/23/19
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07:43
Downgrade
Digital Realty rating change at Jefferies »

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WSO

Watsco

$150.99

-0.39 (-0.26%)

07:42
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07:42
Earnings
Watsco reports Q1 EPS 88c, consensus 88c »

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  • 23

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TWTR

Twitter

$34.39

-0.01 (-0.03%)

07:42
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Twitter sees FY19 CapEx $550M-$600M »

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  • 23

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STAG

STAG Industrial

$28.47

-0.405 (-1.40%)

07:42
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07:42
Initiation
STAG Industrial initiated  »

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  • 29

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FCPT

Four Corners Property Trust

$27.75

-0.42 (-1.49%)

07:41
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07:41
Initiation
Four Corners Property Trust initiated  »

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  • 24

    Apr

HBCP

Home Bancorp

$36.30

-0.67 (-1.81%)

07:41
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07:41
Hot Stocks
Home Bancorp raises dividend 5% to 21c »

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  • 03

    May

TWTR

Twitter

$34.39

-0.01 (-0.03%)

07:41
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Twitter says total headcount at end of Q1 reached more than 4,100 employees »

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  • 23

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